EU Imposes Wide-Ranging Sectoral Sanctions Against Russia
August 1, 2014
On July 31, 2014, the Council of the European Union (“EU”) adopted Council Regulation (EU) 833/2014 (“Regulation 833/2014”), implementing Council Decision 2014/512/CFSP (“Decision 2014/512”) of July 31, 2014.
Regulation 833/2014 is the latest of a series of recent measures tightening the EU’s economic sanctions in connection with the situation in Ukraine. Other recent measures include: (i) Council Decision 2014/507/CFSP (“Decision 2014/507”) and Council Regulation (EU) 825/2014 (“Regulation 825/2014”) prohibiting investments in and exports of technologies for certain sectors in Crimea or Sevastopol; and (ii) Council Decision 2014/508/CFSP (“Decision 2014/508”) and Council Implementing Regulation (EU) 826/2014 (“Regulation 826/2014”), listing additional individuals and entities that are considered responsible for action against Ukraine’s territorial integrity and subjecting them to an asset freeze and, in the case of the individuals, a visa ban.
This memorandum provides an overview of the EU’s most recent expansion of its sanctions program in connection with the situation in Ukraine.