12.9.2014 Official Journal of the European Union L 271/3 COUNCIL REGULATION (EU) No 960/2014 of 8 September 2014 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, and in particular Article 215 thereof, Having regard to Council Decision 2014/659/CESP of 8 September 2014 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine ('), Having regard to the joint proposal of the High Representative of the Union for Foreign Affairs and Security Policy and of the European Commission, Whereas: (1)  Council Regulation (EU) No 833/2014 (%) gives effect to certain measures provided for in Council Decision 2014/512|CFSP (°). Those measures comprise restrictions on exports of dual-use goods and technology, restric- tions on the provision of related services and on certain services related to the supply of arms and military equip- ment, restrictions on the sale, supply, transfer or export, directly or indirectly, of certain technologies for the oil industry in Russia in the form of a prior authorisation requirement, and restrictions on access to the capital market for certain financial institutions. (2)  The Heads of State or Government of the European Union called for preparatory work on further targeted measures to be undertaken so that further steps could be taken without delay. (3)  In view of the gravity of the situation, the Council considers it appropriate to take further restrictive measures in response to Russia’s actions destabilising the situation in Ukraine. (4)  In this context, it is appropriate to apply additional restrictions on exports of dual-use goods and technology, as laid down in Council Regulation (EC) No 428/2009 (*). (5)  In addition, the provision of services for deep water oil exploration and production, arctic oil exploration and production or shale oil projects should be prohibited. (6)  In order to put pressure on the Russian Government, it is also appropriate to apply further restrictions on access to the capital market for certain financial institutions, excluding Russia-based institutions with international status established by intergovernmental agreements with Russia as one of the shareholders; restrictions on legal persons, entities or bodies established in Russia in the defence sector, with the exception of those mainly active in the space and nuclear energy industry; and restrictions on legal persons, entities or bodies established in Russia whose main activities relate to the sale or transportation of crude oil or petroleum products. Financial services other than those referred to in Article 5 of Regulation (EU) No 8332014, such as deposit services, payment services, insurance services, loans from the institutions referred to in Article 5(1) and (2) of that Regulation and derivatives used for hedging purposes in the energy market are not covered by these restrictions. Loans are only to be considered new loans if they are drawn after 12 September 2014. (7)  These measures fall within the scope of the Treaty and, therefore, in particular with a view to ensuring its uniform application in all Member States, regulatory action at the level of the Union is necessary. (8)  In order to ensure that the measures provided for in this Regulation are effective, it should enter into force immediately, () See page 54 of this Official Journal. (*) Council Regulation (EU) No 833/2014 of 31 July 2014 concerning restrictive measures in view of Russia’s actions destabilising the situ- ation in Ukraine (OJ L 229, 31.7.2014, p. 1). (*) Council Decision 2014/512CFSP of 31 July 2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine (O] L 229, 31.7.2014, p. 13). (*) Council Regulation (EC) No 4282009 of 5 May 2009 setting up a Community regime for the control of exports, transfer, brokering and transit of dual-use items (OJ L 134, 29.5.2009, p. 1).