EU prolongs Russian sectoral sanctions until July 2016

On 21 December, the Council of the EU announced that the EU's economic sanctions against Russia would be extended until 31 July 2016.   These measures were originally introduced for a one year period in July 2014 and were extended until 31 January 2016 in June 2015 when the EU confirmed that the duration of the … Read more

Russia-related sanctions: US Issues important advisory on ensuring compliance with Crimea sanctions regime and expands sanctions designations

The US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) recently added a number of new persons and individuals to the US’s Specially Designated Nationals (“SDN”) and Sectoral Sanctions Initiative (“SSI”) lists. OFAC also issued new guidelines to strengthen compliance with the existing Crimea sanctions regime. While Treasury Department officials noted that the … Read more

EU sanctions update: EU extends duration of sanctions against Russia

The EU has recently announced an extension of its sanctions imposed in response to the situation in Ukraine.  EU leaders had previously confirmed that the duration of sanctions affecting Russia would be linked to the implementation of the Minsk Agreements, currently foreseen to be completed by 31 December 2015.  The EU has therefore taken steps … Read more