The EU has published new legislation expanding its existing sanctions against Russia. The latest edition of Herbert Smith Freehills’ Sanctions Update briefing provides an overview of the new measures, namely:
- an expansion of the restrictions on dealing in transferable securities issued by listed Russian banks;
- the application of these restrictions to listed Russian companies in the military and oil sectors;
- additional trade restrictions, including in relation to dual use goods and certain services necessary for particular oil projects; and
- an expansion of the existing asset freeze.
Our briefing also summarises recent UK legislation criminalising breach of certain EU trade sanctions against Russia and provides an overview of recent developments in Australia. Finally, we consider possible future developments in this area.
For further information, please contact Susannah Cogman, Partner, Daniel Hudson, Partner, Oleg Konnov, Partner, Rod Fletcher, Partner, Elizabeth Head, Associate, or your usual Herbert Smith Freehills contact.