The new EU sanctions against Russia — key points to know, key steps for companies with business interests in Russia

By Dr Ludger Giesberts, Dr Thilo Streit, Prof Dr Juergen Taschke and Dr Christian Schoop

The European Union (EU) has adopted economic sanctions against Russia — the latest step relating to the protection of the territorial integrity of Ukraine. Earlier this year, the Council of the European Union had already adopted sanctions against certain Russian individuals, a list that has gradually expanded to encompass individual companies and organisations.

Companies that export goods to Russia or import from Russia, provide services in Russia or co-operate with the Russian financial market should take care concerning the new EU sanctions.

The new sanctions, which are explicitly directed against Russia, substantially intensify earlier measures. In addition, the measures address a much wider circle of persons and businesses…

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