The European Union has adopted its 21st package of restrictive measures against Russia, introducing further measures targeting the financial sector, crypto-assets, the energy industry, and the so-called shadow fleet, while reinforcing its focus on sanctions enforcement and anti-circumvention.
The latest package serves as a timely reminder that sanctions compliance extends well beyond sanctions list screening. Businesses should ensure that their governance frameworks, due diligence procedures, and risk assessments continue to evolve in line with an increasingly complex regulatory landscape.
Our infographic provides an overview of the principal measures introduced by the 21st sanctions package and highlights key compliance considerations for businesses operating internationally, including those with a Cyprus nexus.
A more detailed legal analysis of the new measures and their practical implications will follow shortly.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
