The UK has implemented Council Regulation (EU) No. 833/2014 of 31 July 2014 through The Ukraine (European Union Financial Sanctions) (No.3) Regulations 2014. The latter is in force as of 1 August 2013 and can be accessed here. HM Treasury has also published additional guidance regarding restrictions related to transferable securities or money-market instruments, the arms embargo, the export ban on dual-use goods for military end users and the measures to curtail access to certain technologies. This guidance is available…

The EU has published its so-called ‘Stage 3’ sanctions against Russia in Regulation 833/2014 (see here) (“the Regulation”). Who do the sanctions apply to? As is usual with EU sanctions, the scope is limited to: Activities in the EU by any persons; and EU natural persons, and EU incorporated entities (including branches), wherever located. EU sanctions do not apply to non-EU incorporated entities. What do the new sanctions cover? The new sanctions, which enter into…

Further to our blog post of 29 July, the European Council has today adopted the package of additional restrictive measures in light of Russia’s actions destabilising the situation in eastern Ukraine. These will apply from tomorrow (1 August 2014) and only in respect of new contracts. We will provide further detail once the relevant legislation is published later today but by way of summary, the new restrictive measures are: In order to restrict Russia’s access…

On 30 July 2014, the European Council published new legislation concerning restrictive measures in relation to individuals and entities deemed responsible for undermining or threatening the territorial integrity, sovereignty and independence of Ukraine. The new designations include 8 individuals and 3 entities. A full list is set out below: Individuals Alexey Alexeyevich GROMOV Oksana TCHIGRINA Boris LITVINOV Sergey ABISOV Arkady Romanovich ROTENBERG Konstantin Valerevich MALOFEEV Yuriy Valentinovich KOVALCHUK Nikolay Terentievich SHAMALOV Entities Joint-Stock Company…