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Key Considerations from the EU’s 12th Russia Sanctions Package

By , , and 1 Min Read

On 18 December 2023, the EU published its 12th package of sanctions targeting Russia. The changes implemented in this package have a material impact on all businesses with a continued or residual presence in Russia, including those seeking to exit and divest from Russia. Moreover, all companies, even those not trading directly with Russia, should be mindful of the increased focus on targeting circumvention.

In our latest on-demand webinar, we provide you with an overview of some of the key considerations from the EU’s 12th Russia sanctions package. Specifically,
we discuss:

  • New software-related restrictions in Article 5n
  • The implications of the wind-down of the subsidiary exemption in Article 5n
  • Clarifications on licensing requirements for the transfer of sanctioned items as part of divestment
  • The “No Russia” clause in Article 12g

Click HERE to watch this on-demand webinar now.

If you have any questions, please reach out to our team below.

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Paul Amberg is a partner in Baker McKenzie’s Madrid office, where he handles international trade and compliance issues. He advises multinational companies on export controls, trade sanctions, antiboycott rules, customs laws, anticorruption laws, and commercial law matters. Paul helps clients assess and address compliance risks presented by export controls, trade sanctions, antiboycott rules, customs laws, and anticorruption laws. His practice especially focuses on internal reviews, voluntary disclosure filings, and enforcement actions brought by, the US Government in relation to the Export Administration Regulations (EAR), International Traffic in Arms Regulations (ITAR), trade and economic sanctions programs, and US customs laws.

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Derk advises clients on a wide variety of EU, regulatory and competition law matters, including merger control, cartels and vertical agreements. In addition, he advises and assists clients with respect to compliance and enforcement issues relating to EU and Dutch export controls, trade laws and sanctions. Derk has further acted for clients in various compliance investigations, both internally and involving government authorities.

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Kimberley focuses on international, European and public law governing international trade compliance and sustainability. She advises clients on internal compliance systems, sanctions and embargo regimes, export control law and foreign investment reviews. She accompanies internal and external investigations and self-disclosures of export control and sanctions breaches. In addition, she assists clients in complying with the rapidly evolving EU and German legal landscape on sustainability, in particular the new directives and regulations under the EU Green Deal and the German Supply Chain Due Diligence Act. This includes setting up and improving corporate governance structures and internal compliance programs with regard to environmental, social and governance (ESG) matters.

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