Restrictive measures against the Russian Federation in relation to events in Ukraine: how will they affect you?

In response to the downing of Malaysian Airlines flight MH17 in Donetsk and in view of the gravity of the overall situation, the Council of the European Union has adopted new restrictive measures targeting co-operation and exchanges with the Russian Federation. These measures are intended most notably to limit access to EU capital markets for Russian state-owned financial institutions, impose a ban on trade in arms as well as on dual goods for military end users and restrict Russian access to high-end technologies related to oil exploitation. Despite certain exceptions, the prohibitions are widely applicable in terms of time and space. Lastly, while sanctions may be imposed in the event of intentional breaches of the prohibitions, remedies are nevertheless available to any persons and entities adversely affected.

The package of measures directed at the Russian Federation imposes restrictive measures in the fields of finance, trade in military arms and related material, dual-use goods and technology and the exploitation of oil resources in Russia.

The Council of the European Union has also expanded the list of persons and entities subject to sanctions adopted in March and has included a ban on investments in strategic industrial sector transport, telecommunications, energy and the exploitation of oil, gas and minerals in the Crimea and Sevastopol…

Click on the link below to read the rest of the Arendt & Medernach briefing.

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