Criminalisation of EU sanctions violations The EU Council has unanimously decided to add the violation of restrictive measures to the list of ‘EU crimes’. See here for Council press release. Currently Member States have different definitions of what constitutes a violation of EU sanctions and what penalties should be applied in the event of a violation. The Decision by the Council means that eventually these issues will be harmonised across the EU. However, this will not…
The UK has banned the import of Russian oil and oil products into the UK, and has further banned UK services including finance, insurance, and shipping from enabling the seaborne transport of Russian oil and oil products globally (see here for our previous blog). However the UK (in coordination with G7 and Australia) has also created a price cap exception to the services ban which allow the UK to continue facilitating the transport of Russian…
The UK has adopted The Russia (Sanctions) (EU Exit) (Amendment) (No. 16) Regulations 2022 which introduce new restrictions against Russia and expand existing ones. The Legislation enters into force on 5 December 2022. The Russia (Sanctions) (EU Exit) (Amendment) (No. 16) Regulations 2022: Prohibit the direct or indirect supply or delivery by ships of certain oil and oil products falling within commodity codes 2709 and 2710, from a place in Russia to a third country, or from one…
The UK has adopted the Russia (Sanctions) (EU Exit) (Amendment) (No. 15) Regulations 2022 which introduces new restrictions against Russia. The Russia (Sanctions) (EU Exit) (Amendment) (No. 15) Regulations 2022: Introduce a new restriction against making certain loans or credit available to persons connected with Russia (i.e. an entity incorporated, constituted or domiciled in Russia); subsidiaries of persons connected with Russia; and entities owned by Russian individuals. This essentially extends the scope of the existing…