Western leaders agree 6-month extension of Russia sanctions

A senior European diplomat has suggested that western leaders meeting at the G20 summit in Turkey have agreed to extend sanctions imposed on Russia for its role in the Ukraine crisis for 6 months until July 2016.  The EU’s economic sanctions on Russia are currently due to expire at the end of January (see previous blog).  The diplomat said that leaders, including the US President, German Chancellor, Italian and British Prime Ministers, and the French Foreign Minister, concluded that it was important to maintain pressure on Russia before scheduled elections in eastern Ukraine.

The EU’s sanctions regime on Russia prohibits (inter alia) financial transactions with major Russian state banks, bans the export to Russia of certain energy-exploration equipment, and prevents the sale of arms and some dual-use civilian goods to the country.  A separate regime, currently due to expire on 15 March 2016 and not part of the reported agreement, imposes an EU-wide asset freeze and travel ban on people and entities said to be responsible for undermining the territorial integrity, independence, or security of Ukraine.

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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