It is now over 100 days since Russian military action began in Ukraine, during which time Western governments and their allies have imposed raft after raft of economic and trade restrictions on Russian-owned companies, banks, industries and the individuals supporting the Kremlin. The newly agreed Sixth Package of EU sanctions is of particularly wide scope. Some of the most stringent measures are still to take full effect, including the banning of imports of oil and gas – both strategically important exports for the Russian economy – and a potential prohibition on future investment in that country. But, by all accounts, the sanctions imposed to date are biting, impacting the day-to-day operation of Russian enterprises and those conducting business with them.
In our third update on sanctions developments across the UK, U.S. and Europe we track the most recently imposed restrictions and look ahead at what may yet be introduced.
For further information, please contact:
Satindar Dogra, Partner, Linklaters