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European council and UK government announce new Russia sanctions

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On 15 March 2022, the European Council introduced a fourth package of sanctions against Russia. The move follows an informal meeting attended by EU heads of state and government on 10-11 March. The sanctions target entities and individuals. Measures include: Bans on: Transactions with certain state-owned companies which are already subject to refinancing restrictions Providing…

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International Conflict, Sanctions, Spotlight, war, z-excludeALL

The Register of Overseas Entities – What you need to know

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Originally promised “by 2021”, the war in the Ukraine has finally booted the Register of Overseas Entities onto the statute book as part of a global push towards transparency in property ownership. As we reported in December 2020, most UK entities have been required to provide information about their ultimate owners since June 2016, but…

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Sanctions, z-excludeALL

Ramifications under trade credit and political risk insurance policies for an insured’s decision to

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The ongoing imposition of sanctions against Russia arising from the attack upon Ukraine creates a number of significant issues for insurers which have written trade credit and/or political risk insurance policies. Even where sanctions have not forbidden companies’ business in Russia, many companies have voluntarily chosen to withdraw from the Russian market, in whole or…

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Sanctions, z-excludeALL

The ripple effects of sanctions

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Having been accused of getting off to a slow start in relation to the imposition of sanctions arising out of developments in Russia and Ukraine, the UK Government appears to be generating something of a head of steam and has in recent days sanctioned 7 Oligarchs and 386 members of the Russian Duma. Indeed the…

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Sanctions, z-excludeALL

Expropriation and other recent measures aimed at foreign investors in Russia

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As a reaction to the international sanctions following the Russian invasion of Ukraine, the Russian government enacted several economic retaliatory measures that could significantly impair foreign investments in Russia or contracts concluded with Russian companies. Below, we outline the various measures currently discussed and/or already in force and provide you with information on investment protection…

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International Conflict, Sanctions, Spotlight, war, z-excludeALL

EU adopts fifth package of sanctions against Russia

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The European Council has today (08 April 2022) adopted a fifth package of sanctions against Russia, with a view to putting pressure on Russia’s economy and limiting its capacity for aggression against Ukraine. Key sanctions include: – Prohibitions on: – The purchase, import or transfer of coal and other solid fossil fuels into the EU if they…

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International Conflict, Sanctions, Spotlight, war, z-excludeALL

Update: UK Government announces new Russia sanctions

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On 06 April 2022, the UK Government announced a new package of economic sanctions against Russia. Building on the approach previously taken, the sanctions target business elites, banks and strategic industries, including iron and steel. Additionally, the Government has announced measures to undermine the capabilities of the Russian energy sector and has committed to ending…

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International Conflict, Sanctions, Spotlight, war, z-excludeALL

UK Government announces 14 new Russian sanctions

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On 31 March 2022, the UK Government announced 14 new Russian sanctions, targeted primarily at state-owned media organisations and Russian propagandists. Those subject to the new sanctions will have their UK assets frozen and no UK citizen or company will be able to do business with them. Individuals subject to travel bans will also be…

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International Conflict, Sanctions, Spotlight, war, z-excludeALL