Russian faces EU and US sanctions following Ukraine crisis
The sanctions landscape against Russia has changed dramatically over the course of the past month. Most recently, on 17 March 2014, pursuant to EU Regulation No 269/2014, all funds belonging to or controlled by 33 Russian persons listed in Annex I to the EU Regulation were frozen. In addition, on 17 March, the US issued Executive Order 13661, pursuant to which sanctions against 27 Russian individuals and Bank Rossiya have now been authorised. The US also issued Executive Order 13662 on 20 March 2014, which provides the jurisdiction to impose sanctions on persons (and those assisting them) operating in specific economic sectors in Russia.
The continuing development of sanctions against Russian individuals (and potentially incorporated entities) is likely and will, as a result, have an impact on those engaged in business with Russian counterparties.
In a situation where you participate in a joint business activity/own or control assets jointly with a person sanctioned by US authorities, and jointly owned assets are frozen in an EU bank account, what action can you take? …
Click on the link below to read the rest of the Eversheds 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 Eversheds
News from The Lawyer
Briefings from Eversheds
Mercedes-Benz fined $57m for price-fixing.
Anti-money laundering measure means reporting more to the state.
Analysis from The Lawyer
Eversheds is no stranger to an international tie-up but now it’s in the market for the jewel in its global crown
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all