Budapest – The European Union has harmed itself economically with the sanctions it has imposed on Russia over Ukraine, Hungarian Prime Minister Viktor Orban said on Friday, calling for a rethink. Orban’s remarks came a day after his Slovak counterpart, Robert Fico, criticised the sanctions as “meaningless”, saying they would threaten economic growth in the […]

The EU has recently expanded the sanctions it has imposed against Russia in response to the situation in Ukraine. In summary, this briefing covers: The EU’s introduction of “phase 3” sanctions affecting key sectors of the Russian economy such as the banking and energy industries; EU trade restrictions relating to Crimea and Sevastopol; and Expansions […]

  On the morning of Tuesday April 29, the EU added 15 additional individuals to the list of persons designated under the EU sanctions relating to Ukraine. These include several Russian government ministers and officials (such as the Russian Deputy Prime Minister, Dmitry Kozak, and the Minister for Crimean Affairs, Oleg Savelyev) who were listed […]

  Since March the US Commerce and State Departments have suspended their processing of applications seeking a US government license or authorization to export to Russia goods, software, technology or defense-related services.   On April 28, the Commerce and State Departments modified this partial export embargo on Russia. Going forward, they will only deny applications […]

The US sanctions relating to Ukraine and Russia are primarily directed at US persons. Non-US persons are not directly required to comply with the sanctions, so long as the relevant transaction and parties involved do not have any US nexus. If US individuals or companies, or any person within the United States is involved in […]

1.On Monday April 28, the US imposed sanctions on – an additional 7 Russian individuals and – 17 Russian or Russian-owned companies. 2.All of these persons were added to the primary US sanctions list, the list of specially designated nationals, or ‘SDN’ list. 3.US persons are prohibited from dealing with any SDN, or any entity […]

Amid continued unrest and scattered reports of violence in eastern and southern Ukraine, the US and EU have moved to impose additional sanctions on Russian persons. As with the prior rounds, the new designations of Russian individuals and companies are intended to put further pressure on the Russian leadership to take action to de-escalate tensions […]

Introduction Following a promise by the Council of the European Union (EU) on 20 February 2014 to impose various restrictive measures against Ukraine in response to the deteriorating political situation,1 the EU list of Ukrainian persons subject to an asset freeze has been adopted. This asset freeze list was published as part of Regulation 208/2014 […]