EU COMMISSION GUIDANCE ON RUSSIAN FINANCIAL SANCTIONS

The European Commission has published a Commission Guidance note on the implementation of certain provisions of Council Regulation (EU) No 833/2014. The Regulation came into force on 31 July 2014 and imposes a package of “tier 3” sanctions on Russia in view of the situation in Ukraine (see our previous blog post on the measures) which was amended in September and December (see previous blogs here and here).

The note provides guidance to questions that have been asked of the Commission on the provisions relating to financial assistance, financial services, emergency funding, loans and capital markets. It aims to ensure the uniform interpretation of the Regulation by national authorities and other parties.

This entry was posted in Russia 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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