The IT sector has been hit by the EU’s 11th round of sanctions against Russia for its illegal war against Ukraine.

IT companies exporting to Russia that had evaded sanctions will face penalties, the EU Commission announced in a statement.

IT companies exporting to Russia hold a license from the from the Federal Security Service of the Russian Federation (FSB), which allow them to work with information at the Russian security level of “state secret”, the EU Council said in a statement.

The change in criteria for existing sanctions will mean those those companies can be cut off from the global financial system or made persona non grata for commercial and public entities connected with the EU.

The sanctions will aim to reduce the risk of circumvention, extending the prohibition of certain sensitive goods to cover advanced technology exported from the EU to third countries via Russia.

The fresh round of sanctions aims to dampen Russia’s information warfare which, the EU stated, “constitutes a key means” for its aggression against Ukraine.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

The assessment came hours before the news that Wagner, Russia’s mercenary force, advanced on Moscow and shot at a Russian aircraft, after which it retreated.

Yevgeny Prigozhin, the head of Wagner, is threatening an armed rebellion against Russia’s military leadership, after accusing it of shelling Wagner forces, sending them into a “meat grinder”.

Putin has labeled Prigozhin’s actions  a “betrayal” and “stab in the back” for Russia.

Prigozhin responded on Telegram that Putin was “deeply mistaken,” saying in an audio message that Wagner “are patriots of our Motherland, we fought and are fighting,”  and that ”no one is going to turn themselves in at the request of the president,” CNN reported.