A Potential Fork in the Road: US and EU Sanctions Relating to the Ukrainian Crisis

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Explore:  EU Russia Sanctions Ukraine

Both the United States and the European Union have issued calibrated Ukraine-related sanctions as a direct response to the recent political upheaval in Ukraine. Although both US and EU sanctions target certain persons for escalating the Ukrainian crisis (see Annex A), there is a budding rift in the international sanctions community. Specifically, the economic, structural and legal limitations of the EU make it unlikely that the EU will match US sanctions (already authorized but not issued) that directly target the Russian economy.

What You Need to Know -

Although the initial US and EU sanctions targeting the Russian Federation appear to have been in close lock-step, a closer review of who has been designated under each regime reveals a different story. There are a total of 64 persons designated in the two regimes, but only 18 persons (less than 29%) are designated under both regimes. Indeed, 13 members of President Vladimir Putin’s inner circle have been designated only under US sanctions.

Please see full memo below for more information.

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Topics:  EU, Russia, Sanctions, Ukraine

Published In: General Business Updates, Elections & Politics Updates, Finance & Banking Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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