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…
On 30 October 2021, the president of Ukraine enacted four decisions of the National Security and Defense Council of Ukraine (NSDC) imposing personal special economic and other restrictive measures (sanctions) (“Decisions”). The Decisions impose extensive sanctions restrictions, including, among others, asset freezes, restriction on the exit of capital from Ukraine, a ban on trade operations and the transit of resources, flights and transportation within the territory of Ukraine, and the suspension of the performance of…