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Sanctions Targeting Russia

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On 23 June 2021, HM Treasury released updated guidance on financial and investment restrictions under the Russia (Sanctions) (EU Exit) Regulations 2019 (the “Regulations”). Whilst the guidance is substantively the same as that released in June 2020, a number of “Frequently Asked Questions” have been added to clarify interpretation of the Regulations. The Frequently Asked Questions reflect some, though not all, of the guidance previously outlined by the European Commission in relation to its interpretation…

In the past several days, the US Government has issued a slew of sanctions measures targeting Russia. These represent the first major escalation of sanctions against Russia under the Biden Administration and, according to a White House Fact Sheet , are stated to be in response to Russia’s “harmful foreign activities,” including efforts to undermine free and fair democratic elections and institutions, malicious cyber activities (including the recent SolarWinds incident), transnational corruption, targeting of dissidents…

On 13 April 2021, a new import ban will come into effect on 24 new categories of products originating from the Russian Federation. The Cabinet of Ministers of Ukraine adopted a resolution[1] amending the list of products prohibited for import into Ukraine from the Russian Federation, which was previously approved by its Resolution No. 1147 dated 30 December 2015 “On Banning the Import of Products Originating in the Russian Federation into the Customs Territory of…

On 23 March 2021, the president of Ukraine enacted[1] the decision of the National Security and Defense Council of Ukraine (“Sanctions Decision”) imposing personal special economic and other restrictive measures (sanctions) against almost 80 Russian companies, 23 Russian individuals and three Members of the European Parliament. The sanctions are effective for a period of between three and five years and target the following persons, among others: Russian oil and gas companies, as well as companies…