Craig Jones, Partner and Co-Head of S&C’s National Security Practice, and associate André Garcia do Fôjo, co-authored an article for Law360 discussing the escalation of EU and UK sanctions on Russia and potential implications for affected businesses. The authors review the extension of the sanctions, which cover the defense, energy, finance, media and shipping sectors. Developments include asset freezes, anticircumvention measures, restrictions on economic support, and designations for both Russian and non-Russian companies and persons.
“The growing number of non-Russian companies being designated reflects the expanding scope of both the EU and the UK regimes,” the authors write. “These regimes are dynamic and continually evolving. Therefore, businesses must closely monitor legal updates and proactively engage with relevant authorities to seek clarifications or apply for any exemptions where appropriate.”
Read: “Key Takeaways As EU And UK Impose New Russia Sanctions – Law360”