EU broadens Ukraine sanctions and adds two companies and 13 individuals to sanctions list

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Explore:  EU Sanctions Ukraine

On 12 May 2014, the EU Council broadened the scope of EU sanctions in response to the situation in Ukraine. The legal basis for EU sanctions was broadened notably to cover obstruction of the work of international organisations and involvement in the transfer of ownership of entities in Crimea or Sevastopol. In addition, 13 persons and – for the first time – two Crimea linked companies were added to the list of sanctioned parties. These changes entered into force on 12 May 2014. The EU Council has reiterated that work on possible targeted EU measures continues, to enable further steps depending on future events.

II. Sanctions -

Based on Council conclusions issued on Monday, 12 May 2014,1 the EU has amended its sanctions in relation to the situation in Ukraine.

First, the EU has decided to broaden the legal basis for restrictive measures in response to actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine (originally featured in Regulation 269/2014). These changes are made in Regulation 476/2014, which was published and entered into force on 12 May 2014...

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Topics:  EU, 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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