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ARTICLE · 31 JULY 2023

Applying For A Derogation Under EU Regulation 269/2014

William Fry LLP
William Fry LLP
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William Fry LLP

William Fry LLP

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In March 2014, the European Council adopted EU Regulation 269/2014 concerning restrictive measures in respect of actions undermining or threatening...

IrelandInternational Law
Laura Murdock
Laura Murdock
Paul Convery
Paul Convery
Mollie Lenihan-McGrane
Mollie Lenihan-McGrane
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EU Regulation 269/2014

In March 2014, the European Council adopted EU Regulation 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine (Sanctions Regulation) in response to the Russian annexation of Crimea. The Regulation introduced restrictive measures, including asset freezing, trade restrictions and travel bans on listed entities. EU Regulations are directly effective in Ireland, and private companies must comply with these measures.

In February 2022, the EU introduced a package of sanctions following the escalation of Russian aggression against Ukraine. These updated sanctions targeted the military, political and business sectors of Russia. The EU further blocked Russian access to the Union's capital and financial services. Ten successive packages of sanctions have been introduced, significantly curtailing Russia's economic power and war

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