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Sunny Mann

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On 28 April 2022, the UK introduced The Export Control (Amendment) Order 2022, amending the Export Control Order 2008 (S.I. 2008/3231), which will come into force on 19 May 2022. An additional control on military end-use will apply; however there are no amendments to the underlying dual-use regulation and the existing end-use control will continue to apply separately. The Amendment provides for the following in particular: Prohibition The export of dual-use goods, software or technology…

On 5 April 2022, the European Commission (the “Commission“) published new guidance for EU Member States relating to foreign direct investment (“FDI“) from Russia and Belarus (the “Guidance“). The Guidance aims to address the heightened risk that investments subject to the Russian or Belarussian government may pose to security or public order in the EU, especially with investments into critical assets in the EU. Whilst the EU has adopted sanctions against Russia and Belarus as a…

On 6 April 2022, Liz Truss, the UK Foreign Secretary announced additional UK sanctions against Russia. The new measures include: Asset freezes against Sberbank, Credit Bank of Moscow and eight individuals. The UK has already introduced these asset freezes. Please see OFSI’s notice here. An outright ban on all new outward investment to Russia.By the end of 2022, the UK will end all dependency on Russian coal and oil, and end imports of gas as…

In a statement made on the 5th of April, Ursula von der Leyen, the President of the EU Commission outlined EU proposals for additional sanctions against Russia. The new measures will include: An import ban on coal from Russia, worth EUR 4 billion per year.A full transaction ban on four key Russian banks. The President of the EU Commission mentioned that VTB, the second largest Russian bank, will be one of the four banks.A ban…