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EU Related Items and Policy

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On 11 July 2023, Polish authorities announced that assets of three entities controlled by Vyacheslav Kantor were subjected to compulsory administration in Poland. The entities, two incorporated in Cyprus and one incorporated in Luxembourg, as well as Vyacheslav Kantor, have earlier been designated on the Polish sanctions list. The entities jointly hold 19.82% of publicly traded stock of Grupa Azoty S.A.. The estimated value of the administered assets is PLN 500 million. Poland’s State Treasury…

We’re reaching out today as we believe the publication of the 11th package of sanctions against Russia deserves your utmost attention! Particularly as it relates to the new anti-circumvention tool and the addition of entities registered outside of Russia on the list of natural or legal persons which are military end-users, form part of Russia’s military-industrial complex or which have commercial or other links with or which otherwise support Russia’s defence and security sector (i.e.…

On 9 May 2023, the President of the European Commission, Ursula von der Leyen, announced further details on the proposed eleventh package of EU sanctions against Russia. According to the press statement issued by the European Commission and related press reports, the proposed package mainly focuses on combatting circumvention of EU sanctions. More specifically, it would include the following additional measures: Ban of ‘shadow’ entities from Russia and third countries that are intentionally circumventing EU…

The G7 announced the creation of a new Enforcement Coordination Mechanism “to bolster compliance and enforcement of our measures and deny Russia the benefit of G7 economies” on the one-year anniversary of Russia’s invasion of Ukraine. The International Group of Seven (“G7”) is an intergovernmental forum whose members include the US, UK, Germany, France, Italy, Canada, and Japan, with the European Union as a “non-enumerated” member. As such, Germany, France and Italy are EU Member…