EU AMENDS AND CLARIFIES RUSSIA SANCTIONS

The European Union has today published amendments to its sanctions regime against Russia, in Council Regulation (EU) No 1290/2014 which amends Council Regulation (EU) No 833/2014 and Council Decision 2014/872/CFSP which amends Council Decision 2014/512/CFSP.

The Council of the EU says it has done so because “it is necessary to clarify certain provisions” in its previous measures imposing sanctions on Russia.  It has amended / clarified the provisions relating to:

1) The prohibitions on (and exceptions to the prohibition on) making new loans or credit with a maturity exceeding 30 days to certain entities in certain circumstances; and

2) The prohibitions and restrictions on the sale / supply / export of oil exploration and production projects in Russia and its Exclusive Economic Zone and Continental Shelf.

The new provisions are on the ‘sanctions in force’ section of this blog.

This entry was posted in Latest EU Measures, Russia, Ukraine by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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