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ARTICLE · 27 JUNE 2024

EU Adopts 14th Sanctions Package Against Russia

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On June 24, 2024, the European Union ("EU") adopted its 14th sanctions package against Russia, which "responds to the needs and findings on the ground, and tackles enforcement issues,"1 "target high-value...

GlobalInsurance
Paulette Vander Schueren
Paulette Vander Schueren
Nikolay Mizulin
Nikolay Mizulin
Edouard Gergondet
Edouard Gergondet
Dylan Geraets
Dylan Geraets
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On June 24, 2024, the European Union ("EU") adopted its 14th sanctions package against Russia, which "responds to the needs and findings on the ground, and tackles enforcement issues,"1 "target high-value sectors of the Russian economy, like energy, finance and trade, and make it ever more difficult to circumvent EU sanctions."2

The 14th package amends the framework governing asset freeze measures under Council Regulation (EU) No 269/2014 ("Regulation 269/2014") and introduces new designations based on that Regulation.3 It also reinforces sectoral sanctions targeting Russia under Council Regulation (EU) No 833/2014 ("Regulation 833/2014") by establishing new tools to fight circumvention through increased liability and compliance requirements, establishing new frameworks for imposing list-based sanctions, introducing sanctions against Russian liquefied natural gas, reinforcing existing import- and export-related restrictions, increasing the scope

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