ARTICLE · 16 DECEMBER 2014

Update On EU Sanctions Against Russia

Schoenherr (Schönherr Rechtsanwälte)

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Schoenherr (Schönherr Rechtsanwälte)

Schoenherr is a leading European full-service law firm with a strong footprint across Central and...

On 6 December 2014, Council Regulation (EU) No 1290/2014 entered into force. This is the latest in a series of regulations regarding "sectoral sanctions" against Russia.

European UnionInternational Law

Klara Kiehl

Martin Ebner

Michail Fouzailov

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On 6 December 2014, Council Regulation (EU) No 1290/2014 entered into force. This regulation is the latest in a series of regulations regarding "sectoral sanctions" against Russia.

The "sectoral sanctions" against Russia were introduced on 1 August 2014 by Regulation 833/2014 (see our Legal Insight) and amended on 12 September 2014 by Regulation 960/2014 (see our Legal Insight). In contrast to these previous regulations, the newest regulation 1290/2014 does not impose additional sanctions, but rather aims to eliminate uncertainty as to the interpretation of existing ones. This development is highly welcome, especially since the existing provision on the restriction on new loans and credit was ambiguous and had created uncertainty on capital markets:

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Update On EU Sanctions Against Russia

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