Additional EU and US sanctions
There has been further escalation of EU and US sanctions resulting from the events in Ukraine, including new designations and the issuance of a new executive order (EO) on 20 March 2014 that provides additional legal basis for future designations and a new EU regulation that adds 12 persons to the list of natural and legal persons, entities and bodies subject to the EU sanctions.
The Russian government has responded to the initial sanctions so far by imposing a travel ban on certain US government officials, but additional retaliatory measures in response to the new EO are being considered. Companies with operations in Russia should remain vigilant and assess whether new designations have an impact on their current activities and how the expanded authority for future designations may affect their operations, based on sectors/industries that could be targeted by the US government pursuant to the authority set forth in the new EO.
On 20 March 2014, the US government designated additional Russian individuals as well as one Russian bank under EO 13661 from 17 March 2014. US persons are prohibited from engaging in transactions with designated persons and entities, including any entities that are owned (at 50 per cent or higher interest) or otherwise controlled by designated persons…
Click on the link below to read the rest of the Hogan Lovells briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Hogan Lovells
News from The Lawyer
Briefings from Hogan Lovells
The decision of the US Court of Appeals has raised questions about how issuers should present their disclosures on conflict minerals under Exchange Act Rule 13p-1 and Form SD.
An interesting judgment was delivered by the Honourable J Majiki on 19 November 2013 in the Eastern Cape High Court, Port Elizabeth.
Analysis from The Lawyer
As international firms question their future in these small, closely linked markets, local lawyers too are eyeing the business environment with caution
Beyond the headline infrastructure projects, UK construction work is still recovering from the clobbering it took during the slump