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…
Starting from 9 April 2022, the import of goods to Ukraine from the Russian Federation is prohibited in accordance with Resolution of the Cabinet of Ministers of Ukraine No. 426 dated 9 April 2022 “On Application of Ban on Import of Goods from the Russian Federation”.
Due to the Russian invasion of Ukraine that started in late February 2022, on 3 March 2022, the Verkhovna Rada of Ukraine adopted the Law of Ukraine “On the Basic Principles of Forced Expropriation in Ukraine of Property of the Russian Federation and Its Residents” (“Law”). The Law came into force on 7 March 2022 and is aimed at enabling Ukrainian authorities to expropriate the property owned by the Russian Federation and its residents for…