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Hanna Shtepa

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On 20 October 2022, a new set of personal special economic and other restrictive measures (sanctions) became effective (“Decisions”)[1]. The Decisions impose 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 on participation in privatization and defense procurement as well as securities transactions, a ban on increasing the size of the charter capital of related…

On 5 August 2022, the National Security and Defense Council of Ukraine introduced a new set of sectoral special economic and other restrictive measures (sanctions) against the Russian Federation (“Sanctions”).1 To become effective, the Sanctions must be approved by the Ukrainian Parliament, which is expected within a week.2 The Sanctions are to be effective for a period of 10 years and include, in particular, the following restrictions:3 Ban on the withdrawal of capital from Ukraine…

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…