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Sanctions Targeting Russia

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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…

On March 2, 2021, the US Government imposed a series of new measures against Russian Government officials and entities in response to the alleged poisoning and subsequent imprisonment of Russian opposition politician Aleksey Navalny. Specifically, the US State Department (“State”) imposed a number of financial sanctions and export restrictions on Russia; the Office of Foreign Assets Control (“OFAC”) within the US Treasury Department designated seven Russian officials to the List of Specially Designated Nationals and…

On January 1, 2021, the National Defense Authorization Act for Fiscal Year 2021 (the “NDAA 2021”) was enacted into law after the US Congress voted to override the President’s veto of the bill. The defense budget legislation authorizes $740.5 billion for national defense spending and sets policies on military compensation, procurement of equipment, operations, and training. In addition, similar to most National Defense Authorization Acts in recent years, the NDAA 2021 includes provisions regarding sanctions…