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CMS Client Alert | March 2014

Update on US & European sanctions against Russia

27/03/2014

To date, two rounds of direct sanctions have been imposed against those individuals whom the US and Europe believe are responsible for the actions which led to the declaration of sovereignty by Crimea, and its subsequent joining to the Russian Federation. Currently, the US has sanctioned 31 individuals and one bank, whilst the EU has imposed similar restrictions on 33 individuals.

Although the media has highlighted the impact that these are beginning to have on the Russian economy, the current restrictive measures are primarily directed at specified individuals with the intention of disrupting their personal wealth, businesses and ability to travel through the imposition of asset freezes and travel bans.

Source
CMS Client Alert | March 2014
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Authors

Yuryev Sergey
Sergey Yuryev
Partner
Moscow