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1. It shall be prohibited to:

(a) acquire any new or extend any existing participation in any legal person, entity or body incorporated or constituted under the law of Russia or any other third country and operating in the energy sector in Russia, including projects under construction for the production of liquified natural gas;

(b) grant or be part of any arrangement to grant any new loan or credit or otherwise provide financing, including equity capital, to any legal person, entity or body incorporated or constituted under the law of Russia or any other third country and operating in the energy sector in Russia, or for the documented purpose of financing such a legal person, entity or body;

(c) create any new joint venture with any legal person, entity or body incorporated or constituted under the law of Russia or any other third country and operating in the energy sector in Russia;

(d) provide investment services directly related to the activities referred to in points (a), (b) and (c).

2. It shall be prohibited to:

(a) acquire any new or extend any existing participation in any legal person, entity or body incorporated or constituted under the law of Russia or any other third country and operating in the mining and quarrying sector in Russia;

(b) grant or be part of any arrangement to grant any new loan or credit or otherwise provide financing, including equity capital, to any legal person, entity or body incorporated or constituted under the law of Russia or any other third country and operating in the mining and quarrying sector in Russia, or for the documented purpose of financing such a legal person, entity or body;

(c) create any new joint venture with any legal person, entity or body incorporated or constituted under the law of Russia or any other third country and operating in the mining and quarrying sector in Russia;

(d) provide investment services directly related to the activities referred to in points (a), (b) and (c).

3. By way of derogation from paragraph 1, the competent authorities may authorise, under such conditions as they deem appropriate, any activity referred to in paragraph 1 after having determined that:

(a) it is necessary to ensure critical energy supply within the Union, as well as the transport of natural gas and oil, including refined petroleum products, unless prohibited under Article 3m or 3n, from or through Russia into the Union; or (b) it exclusively concerns a legal person, entity or body operating in the energy sector in Russia owned by a legal person, entity or body which is incorporated or constituted under the law of a Member State.

3a. By way of derogation from point (b) of paragraph 1 of this Article, the competent authorities may authorise, under such conditions as they deem appropriate, any activity referred to therein after having determined that, in accordance with point (b) of Article 5aa(3), such an activity is necessary to ensure the operation of a deep-water offshore gas project in the Mediterranean Sea in which a legal person, entity or body listed in Annex XIX was a minority shareholder before 31 October 2017 and remains so, provided that the project is solely or jointly controlled or operated by a legal person incorporated or constituted under the law of a Member State.

3b. By way of derogation from paragraph 2, the competent authorities may authorise mining and quarrying activities that yield their highest value from, or have as their primary objective, the production of any of the materials listed in Annex XXX.

4. The Member State or Member States concerned shall inform the other Member States and the Commission of any authorisation granted under paragraphs 3, 3a and 3b within two weeks of the authorisation.

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