II. State Department Press Release & Factsheet, Treasury Press Release & Notice, White House Factsheet. This update highlights notable sanctions developments since our March 4, 2022 client update. On 26 February 2022, in response to Russia's invasion of Ukraine, Regulation (EU) 2022/328 of 25 February 2022 (the Regulation) came into force.The Regulation introduces broad new sanctions on Russian airlines, the Russian aviation sector (including aviation insurance) and certain related activities, entities and persons. The package of sanctions has five pillars covering: Capital markets: Financial sanctions that cut Russias access to capital markets, including targeting 70% of the Russian banking market and key state-owned companies. On 23 February 2022, the EU expanded the sanctions in response to the recognition of the non Restrictions on economic relations with the Donetsk and Luhansk regions: This concerns trade between the EU and the Donetsk and Luhansk regions, and includes an import and Source: ansa. Lithuania is enforcing E.U. Derogations are granted for agricultural European Union countries are struggling to agree on the details of a new package of Russia sanctions including how a ban on Vladimir Putin's oil industry would work, diplomats told POLITICO. 05/07/2022. In this Just the Facts, the several rounds of EU sanctions imposed against Russia on 23, 25, 28 February; 2, 15 March; 8 April and 30 May are examined. Below is a timeline of the sanctions adopted in response to Russias decision, announced on 21 February 2022, to recognise the non-government controlled areas of Donetsk and Luhansk oblasts in Ukraine as independent entities, and Russias subsequent invasion of Ukraine on 24 February 2022. These sanctions build on, and expand, the earlier sanctions. Press Release, Press Release and Q&A. Dmytro Kuleba (@DmytroKuleba) July 2, 2022 On 8 April 2022, the EU adopted additional sanctions in response to Russias illegal and unprovoked military aggression against Ukraine. Targeted sanctions: The EU extended the existing sanctions against Russia by including all the 351 members of the Russian State Duma and 27 high profile individuals and entities. On 3 June 2022 the EU published its 6th package of sanctions against Russia, and the IG Clubs published a circular focusing the measures in the 6th package of sanctions which impact on the transport and insurance of oil and petroleum products; and the prohibitions on transacting with Russian state-owned enterprises. The Regulation amends Regulation (EU) 833/2014, first issued in August 2014, which set out the EUs existing Russia sectoral sanctions regime, and introduces new measures targeting various sectors of the Russian economy. See also previous post, post & post. Yes, they are already hitting Vladimir Putin and his accomplices hard, and their effects on the Russian economy will increase over time. Susannah Cogman. The most far-reaching measures are introduced in Council Regulation (EU) 2022/328 (the Regulation). The European Commission on Wednesday targeted the head of the Russian Orthodox Church, Patriarch Kirill, as part of its sixth package of sanctions against Russia. The EU has massively expanded sanctions against Russia in 2022, in response to Russia's decision to recognise the non-government-controlled areas of the Donetsk and Luhansk oblasts as independent entities and the unprovoked and unjustified The restrictions will apply gradually: within six months for crude oil and within eight months for other refined petroleum products. On Tuesday (28 June 2022), the US Departments of Treasury and State imposed further Russia sanctions. Niall Moran (DCU). Following the passage of the Act, OFSI announced the addition of 350 Russia-related entries to the UKs asset freeze list. Since March 2014, the EU has progressively imposed restrictive measures on Russia in response to the: illegal annexation of Crimea in 2014; decision to recognise the non-government-controlled areas of the Donetsk and Luhansk oblasts as independent entities in 2022; unprovoked and unjustified military aggression against Ukraine in 2022; The EU has imposed Plastic letters arranged to read "Sanctions" are placed in front flag colors of Switzerland and Russia in this illustration taken February 28, 2022. sanctions against Russia July 3, 2022 at 3:32 p.m. EDT A Ukrainian antiaircraft gun parked June 24 along a road on the outside of the eastern Ukrainian city of Lysychansk. In June 2022, the Council adopted a sixth package of sanctions that, among others, prohibits the purchase, import or transfer of crude oil and certain petroleum products from Russia to the EU. These developments are summarised below. Five days later, on 28 February 2022, the EU prohibited March 15, 2022. Check the EU sanctions map. The measures are summarised below. The full list of names can be found in Council Implementing Regulation (EU) 2022/427. Supply is already failing to keep up with demand and investors are on high alert for any further supply shortfalls that could occur through in a variety of ways, including damaged infrastructure in a war, sanctions on Russia or Moscow moving to weaponize 7/1/2022, 8:39:32 AM. Shortly after, on February 27, 2022, and on March 2, 2022, the EU published further far-reaching sanctions and export controls. On March 30, 2022, The Russia (Sanctions) (EU Exit) (Amendment) (No. 2:21. Press Release. Number of individuals sanctioned by the EU due to the Russia-Ukraine war 2022. The measures include Regulations and Decisions which, among other things, ban (i) the purchase, transfer and importation of coal and other solid fossil fuels of Russian origin into Russia is the second largest gold mining country in the world, and its gold exports were estimated to be worth 12.6 billion in 2021.
New EU Sanctions on Russia to Target Sberbank, Commission Head Tells Paper More The logo is on display in an office of the Russian largest lender Sberbank in Moscow, Russia December 24, 2020. On 25 February 2022, the European Union A culmination of sanctions compliance challenges Altogether, 2022 sanctions developments in relation to Russia magnify trends and challenges observed for the past decade or so: sanctions against Russia July 3, 2022 at 3:32 p.m. EDT A Ukrainian antiaircraft gun parked June 24 along a road on the outside of the eastern Ukrainian city of Lysychansk. This alert provides a further update on the rapidly evolving sanctions landscape with regard to the Ukraine crisis, further to our alerts on February 22 and February 25.
Richard Tauwhare. Berlin supports the idea, but some in Vilnius are not pleased. Following Russia's invasion of Ukraine in February 2022, the United States, the European Union, and other countries, introduced or significantly expanded sanctions to include Vladimir Putin and other government members, and cut off "selected Russian banks" from SWIFT, triggering the 2022 Russian financial crisis and massive international boycott of Russia and Imports of coal into the EU are currently worth EUR 8 billion per year. The EU has progressively imposed sanctions on Russia since 2014, following the illegal annexation of Crimea.. March 4, 2022 12:29 pm. March 31st, 2022 | Maya Lester QC. Below, we discuss the sanctions in force at the time of posting of this news release. Europe has deployed an unprecedented arsenal of economic sanctions against Moscow in an attempt to weaken Russias economy and force Vladimir Putin to abandon his war in Ukraine. EU introduces additional sanctions against Russia. The new In our call today, @JosepBorrellF and I discussed further steps after Ukraine became an EU candidate country and coordinated positions ahead of the G20 Foreign Ministers meeting. Lithuania is enforcing E.U. (HANDLE). These measures include: an import ban on goods originating in Crimea or Sevastopol; restrictions on trade and investment related to certain economic sectors and (c) ANP. On February 24, 2022, EU leaders met at a special summit and agreed on further sanctions against Russia. 20 EU officials stated that the sanctions are designed to have maximum impact on Russias political elite and four major economic sectors, namely the finance, energy, aviation and space, and high-tech sectors. 8) Regulations legislation, which sets out prohibitions (as well as limited exceptions) on the: export, supply and delivery of luxury goods to Russia, to a person connected with Russia or for use in Russia; The leading news of the day; EU Sanctions Damaged Russia Ever Since The Invasion!Are the sanctions that have been placed on Russia helpful, yes. The Regulation amends Regulation (EU) 833/2014, first issued in August 2014, which set out the EUs existing Russia sectoral sanctions regime, and introduces new measures targeting various sectors of the Russian economy. These are summarised below. May 4, 2022 1:29 pm. The most far-reaching measures are introduced in Council Regulation (EU) 2022/328 (the Regulation). Weve already used the sanctions that dont cause us a lot of pain, such as travel bans on Putin allies and a ban on providing technology and loans to the Russian oil and gas sector. New sanctions would hurt companies that do business with Russia and could lead to retaliation. Western banks should be prepared for cyberattacks, Kilcrease said. Partner +44 20 7466 2580.
New designations. On 15 March, the EU introduced further sectoral measures targeting the Russian economy. Below is a timeline of the sanctions adopted in response to Russia's decision, announced on 21 February 2022, to recognise the non-government controlled areas of Donetsk and Luhansk oblasts in Ukraine as independent entities, and Russia's subsequent invasion of Ukraine on 24 February 2022. EU considers energy sanctions on Russia after nuclear power plant attack Published Fri, Mar 4 2022 7:43 AM EST Updated Fri, Mar The EC also provided a set of questions and answers (Q&As) concerning the restrictive measures against Russia. The EU has adopted Council Decision (CFSP) 2022/962, which renews until 23 June 2023 its sanctions regime in respect of Russias annexation of Crimea and Sevastopol. EU Leaders Back Financial Sanctions, Tech Limits on Russia. These sanctions have been far-reaching, covering the five main types of targeted sanctions including sanctions on the banking system, commodities, sectors such as aviation and luxury goods, as well as sanctions on high-profile 12 April 2022 Supervision. The European Commission proposed on Wednesday to make breaking European Union sanctions against Russia a crime, a move that would allow EU governments to confiscate assets of companies and individuals that evade EU restrictions against Moscow.