Following a joint statement made by leaders at the G7 summit in Germany affirming their commitment to further sanctions on Russia “should its actions so require” (see previous blog), the US and EU governments have prepared a new round of sanctions on Russia that are “locked and loaded” depending on what happens in Ukraine.  These would go beyond the existing set of economic sanctions against Russia that are likely to be renewed by European foreign ministers on 22 June (see previous blog).

Reports suggest that the sanctions could include more Russian officials and businessmen in the asset freezes and travel bans, and add measures targeting Russia’s fuel exports, cutting off Russian banks from international financial markets, and limiting the ability of Russian businesses to enter into transactions outside Russia.

US Secretary of State John Kerry stated that any implementation of new measures “depends on what happens on the ground” and on President Putin’s support for a ceasefire.

This entry was posted in Russia, Ukraine, USA 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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