Compliance With EU Sanctions On Russia

Since the 23^rd of February 2022, the European Union (the "EU") has adopted four separate sanctions packages in response to Russia's illegal and unprovoked military aggression against Ukraine. The sanctions adopted on the 23^rd of the February were in response to Russia's decision to recognise the two 'People's Republics' of Donetsk and Luhansk as independent states. Three further packages of much harsher measures followed after the start of the invasion on the 25^th and 28^th of February and on the 2^nd of March 2022.

The following article looks more closely at the sanctions from a trade perspective and in particular focuses on; what companies need to do, what to avoid in order to ensure compliance and the potential penalties should a company contravene any of the sanctions.