On 10 September 2022, a new set of personal special economic and other restrictive measures (sanctions) became effective (“Decision”).1 The Decision imposes extensive sanctions restrictions, including asset freezes, restriction on the exit of capital from Ukraine, suspension of the performance of economic and financial obligations, a ban on trade operations, prohibition of participation in privatization and leasing of state property, cancellation of visas and licenses, entry bans, etc., upon 606 individuals — Russian politicians and…
With effect from 27 May 2022, a new set of sanctions was introduced by the Security and Defense Council of Ukraine (NSDC) against the following individuals and legal entities:1 Aleksey Likhachev – director general of Rosatom State Atomic Energy Corporation (the Russian Federation) Vladimir Yevtushenkov – shareholder of Sistema Public Joint Stock Financial Company (the Russian Federation) Sistema Public Joint Stock Financial Company – business conglomerate in the Russian Federation (telecommunications, retail, high technology, logging…
Effective as of 24 May 2022, the Ukrainian sanctions legislation was amended to allow expropriation without compensation of assets owned directly or indirectly by the sanctioned individuals and legal entities that pose a significant threat to the national security, sovereignty or territorial integrity of Ukraine, or facilitate such actions being committed by other persons. Grounds for expropriation From 24 May 2022, and until martial law in Ukraine is lifted, the Ukrainian courts are allowed to…
On 1 April 2022, Verkhovna Rada of Ukraine adopted the Law of Ukraine “On Amendments to the Law of Ukraine ‘On the Basic Principles of Forced Expropriation in Ukraine of Property of the Russian Federation and Its Residents’ regarding Clarification of Specific Provisions” (“Amendments”) to extend the scope of the Law of Ukraine “On the Basic Principles of Forced Expropriation in Ukraine of Property of the Russian Federation and Its Residents” adopted back in March…