Sanctions – The Edge Of War And Beyond

March 2023 – Since the outbreak of war in Ukraine, the world faces an ever-increasing number of restrictive measures and sanctions introduced in various jurisdictions. While the global sanctions landscape has been long established, it has developed rapidly after February 24, 2022.

Ukraine introduced its first sanctions law in 2014 after Russia annexed Crimea (the Law of Ukraine on Sanctions No. 1644-VII, dated August 14, 2014 – Law on Sanctions). Since then, Ukraine implemented further autonomous sanctions and introduced various restrictive measures similar to sanctions in nature.

Following the full-scale Russian invasion, the Ukrainian authorities have been closely monitoring and synchronizing Ukrainian sanctions with those introduced abroad, with the reverse happening as well.