On 21 August 2024, the Swiss Federal Council announced the adoption of certain measures included in the European Commission’s 14th package of sanctions against Russia, which will enter into force on 27 August 2024 (the official media release is available here). The adoption of further measures of the 14th EU package is currently under consideration by the Swiss Federal Council. The newly adopted measures mainly consist in (i) an alignment with the EU diamond ban,…
On 29 June 2024, the EU adopted a new Belarus sanctions package by amending Council Regulation (EU) 765/2006 (the âEU Belarus Sanctionsâ), effective from 1 July 2024. The amending regulation can be found here. The new package increases the alignment of the EU Belarus Sanctions with the EUâs sanctions against Russia (including those contained in Regulation (EU) 833/2014 (the âEU Russia Sanctionsâ), as recently updated), in order to address the risk of circumvention. The new…
On 18 December 2023, the EU published its 12th package of sanctions targeting Russia via Regulation (EU) 2023/2878 and Regulation (EU) 2023/2875, amending Regulation (EU) 833/2014 and Regulation (EU) 269/2014, respectively (collectively, “12th EU Russia Sanctions Package”). The amendments to Regulation (EU) 269/2014 (related to Designated Persons (âDPsâ)) are effective immediately while the amendments to Regulation (EU) 833/2014 become effective today, 19 December 2023. These amendments have a material impact on all businesses with a…