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Russian Imposed Sanctions

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In an 18 March 2021 statement released by the German Foreign Ministry, the Group of Seven (G7) nations have announced that they remain fully committed to the implementation of sanctions on Russia over the annexation of the Crimean Peninsula. The group’s Foreign Ministers also reaffirmed their unwavering support for and commitment to the independence, sovereignty and territorial integrity of Ukraine, and denounced Russia’s alleged occupation. See the full statement accessible here for further details.

On July 28, 2020, in the State Duma of Russia was introduced the Draft Bill No. 996800 proposing additional Russian countersanctions (“Draft”). The Draft proposes to introduce amendments to the Federal law No. 281-FZ dated December 30, 2006 “On special economic measures and coercive actions” that sets forth the legal framework for the Russian countersanctions regime. The Draft proposes the following principal provisions: Application of the restrictive measures to the entities controlled by the sanctioned persons.  These…

On May 20, 2020 a draft bill on amendments to the Federal Law on Counter Sanctions was introduced to the Russian Parliament. The proposed amendments authorize the Government to allow importation of sanctioned goods to Russia if:  the goods constitute essential commodities that do not have analogues in Russia; and/or  the goods do have Russian analogues, but there is deficit of such goods due to particular circumstances (national emergency, high-alert regime, etc.) Sanctioned…