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EU Sanctions

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This week in our Sanctions Enforcement Around the World series, we bring you the view from the Czech Republic. What are the recent sanctions enforcement trends in the Czech Republic? While historically the Czech Republic has had legal tools to enforce the international sanctions, the actual enforcement activities of the Czech authorities were rather limited in the past. In reaction to the EU and subsequently also national sanctions targeting Russia and Belarus, the Czech Republic…

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…

On 14 June 2023, the UK Office of Financial Sanctions Implementation (“OSFI”) published updated guidance for the Maritime Services Ban and Oil Price Cap (the “Updated Guidance”). The Updated Guidance can be found here and our previous blog posts on UK Maritime Services Ban and Oil Price Cap can be found here and here. The Updated Guidance provides additional clarity and detail on the following: Wind-down periods: OFSI has introduced a 45-day wind-down period for…

This week in our Sanctions Enforcement Around the World series, we bring you the view from Belgium. What are the recent sanctions enforcement trends in Belgium? Before Russia took the decision to recognise the non-government controlled areas of the Donetsk and Luhansk oblasts of Ukraine and to send troops into the region, a limited number of judicial proceedings related to violations of Union restrictive measures were reported. With the introduction of the first package of…