How will the new EU sanctions affect TMT companies with Russian interests?

Recently, both the US and the EU have escalated their respective sanctions regimes against Russia. The purpose of this article is to outline the extent of the latest set of EU sanctions targeted against Russia, Crimea and Sevastapol and to provide some general guidance to technology, media and telecommunications (TMT) companies doing business in Russia. This is clearly a sensitive area given the importance of the Russian market to many international TMT businesses in the future, but the latest sanctions are limited in effect for such businesses. 

On 31 July 2014, the Council of the European Union adopted Regulation (EU) No. 833/2014. The regulation focuses on sanctioning specific sectors of the Russian economy, namely the financial, energy and dual-use/military sectors. These sector-specific sanctions are commonly called ‘Tier III’ sanctions.

Under article 13 of the regulation, the sanctions apply ‘(a) within the territory of the EU ;(b) on board any aircraft or vessel under the jurisdiction of a member state; (c) to any person inside or outside the territory of the EU who is a national of a member state; (d) to any legal person, entity or body, inside or outside the territory of the EU, which is incorporated or constituted under the law of a member state; and (e) any legal person, entity or body in respect of any business done in whole or in part within the EU’…

Click on the link below to read the rest of the Eversheds briefing.

Sign in or Register to continue reading this article

Sign in

Register

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

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

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.

Briefings from Eversheds

View more briefings from Eversheds

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

1 Wood Street
London
EC2V 7WS
UK
http://www.eversheds.com

Turnover (£m): 382
No. of lawyers: 1,218 (UK 200)
Jurisdiction: UK
No. of offices: 57
No. of qualified lawyers: 54 (International 50)

Jobs

View all jobs from this firm