EU RENEWS CRIMEA AND SEVASTOPOL SANCTIONS FOR 1 YEAR

The Council of the EU has renewed the EU’s sanctions imposed in response to Russia’s annexation of Crimea and Sevastopol until 23 June 2016.  The sanctions consist of prohibitions on importing products originating in Crimea or Sevastopol, investing in or providing financial services to Crimea or Sevastopol, providing tourism services to the region, and on exporting goods or technologies to Crimea or Sevastopol for use in the transport, telecommunications, and energy sectors or in the oil, gas, and minerals industries or providing related services.

In its statement, the Council reaffirmed its condemnation of the illegal annexation of Crimea and Sevastopol by Russia and said that it remains committed to fully implementing its “non-recognition policy”. The sanctions are imposed by Council Regulation 692/2014 and Council Decision 2014/386/CFSP and are renewed by Council Decision (CFSP) 2015/959 amending Council Decision 2014/386/CFSP.

EU Sanctions on Crimea and Sevastopol are one part of the EU’s sanctions on Russia.  COREPER (the permanent representatives of the member states) agreed on Wednesday to extend for 6 months a different part of the EU’s sanctions on Russia, prohibiting transactions with major Russia state banks and certain exports (see previous blog).  The targeted asset freezes and travel bans on 151 people and entities are currently due to expire this September.

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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