In a significant move to counter Russiaâs destabilizing actions abroad, the Council of the EU has enacted Regulation (EU) 2024/2642 on 8Â October 2024 concerning restrictive measures in view of Russiaâs hybrid, destabilizing activities (âEU Russia Destabilization Sanctionsâ). The new sanctions framework aims at targeting individuals and entities involved in hybrid activities that undermine the fundamental values and security of the EU, its member states, and international organizations. The decision, proposed by Josep Borrell, the High…
On 29 June 2024, the EU adopted a new Belarus sanctions package by amending Council Regulation (EU) 765/2006 (the âEU Belarus Sanctionsâ), effective from 1 July 2024. The amending regulation can be found here. The new package increases the alignment of the EU Belarus Sanctions with the EUâs sanctions against Russia (including those contained in Regulation (EU) 833/2014 (the âEU Russia Sanctionsâ), as recently updated), in order to address the risk of circumvention. The new…
On June 27, 2024, Baker McKenzie hosted an Italian-language webinar on sanctions and geopolitical risks. The webinar, which attracted hundreds of registrants, included sessions on EU, US, and UK sanctions developments and enforcement, led by Baker McKenzie lawyers Roberto Cursano (Rome), Riccardo Ovidi (Rome), Kerry Contini (Washington DC), and Sunny Mann (London). The centerpiece of the webinar was a fireside chat led by Roberto Cursano with Giovanni Brignone, one of the lead officials for sanctions…
European authorities have reached political agreement on two new initiatives which come in the context of the âFreeze and Seize’ Task Force, set up by the Commission in March 2022, and which will contribute to the enforcement of EU sanctions. The measure include the harmonisation of criminal offences and penalties for the violation of EU sanctions, and a new Directive to bolster the EU’s powers of asset recovery and confiscation. Harmonisation of criminal offences for…