EU updates sanctions against Libya and Syria, and introduces import ban for Crimean products

The EU Council on 23 June 2014 took several sanctions-related actions,1 all effective on 24 or 25 June 2014, including:

• the introduction of an EU import ban for products from Crimea and Sevastopol (and related financing/insurance services);

• an update of the EU sanctions against Libya with respect to implement a recent UN Security Council Resolution aimed at preventing illicit crude oil transactions involving vessels designated at UN level (while also removing two entities from the asset freeze list); and

• the addition of 12 individuals to the Syria asset freeze list.

Please see full alert below for more information.

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Topics:  Asset Freeze, EU, Illegal Imports, Importation Limits, Imports, Oil & Gas, Sanctions, Syria, Vessels

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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