EU implements additional sanctions against Russia

With the continuing situation in Ukraine, the EU has issued a series of announcements over the last week, culminating in the publication of amendments to EU Regulation 833/2014 ("Regulation"), which take effect today.

On 8 September 2014, the EU indicated it would target key sectors of the Russian economy, with a subsequent press release on 11 September 2014 by the President of the European Council, Herman van Rompuy, stating that the Permanent Representative Committee will conduct a comprehensive review of the implementation of the peace plan by the end of September and that the European Council has "always stressed the reversibility and scalability of [its] restrictive measures."