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28 July 2015
20 March 2015
The US and Switzerland have further expanded their sanctions against Russian and Ukrainian individuals and entities. Please find the detailed information in our up-to-date consolidated list of sanctions here.
Risk Advisory offers a compliance screening service aimed to bring the checks of your counterparties against the Ukraine-related sanctions list to the next level. Our service screens not only your trading agents but also their shareholders and directors to ensure that they are not affiliated with sanctioned entities or individuals.
4 December 2014
Following the elections in the self-proclaimed Donetsk and Lugansk People's Republics on 2 November 2014, the EU has added its participants to its sanctions lists. The official journal on 29 November announced the asset freeze and visa denial to the listed individuals and political organisations. You can find the detailed information in our consolidated list here. Please contact our Russia & Eastern Europe team for further information russia@
03 December 2014
In November Switzerland announced further measures preventing the circumvention of international Ukraine-related sanctions against Russia. The new version takes account of the restrictions implemented by the EU in September. Specifically, twenty-four persons were added to the list of individuals, with whom entering into new business relationship is prohibited and whose existing business is subject to mandatory notification. Switzerland has also made nine more companies subject to restrictions to deals involving military and dual-use items. More companies faced limited access to financial instruments.
22 October 2014
The most recent version of Risk Advisory's consolidated sanctions list includes the measures implemented by Canada on 16 September 2014 against several Russian military officials and the largest bank in Russia – Sberbank. Five more entities from the Russian defence sector also faced new restrictions. Canada has also repealed its sanctions against ExpoBank and RosEnergoBank (both banks were sanctioned in the end of April 2014). We have also included sanctions implemented by Japan against five Russian banks. The measures entered into force on 24 September 2014. Finally, on 10 October Norway officially adopted the set of measures implemented against Russian entities and individuals by the EU on 12 September 2014. We have also included those into our consolidated list. Please contact our Russia & Eastern Europe team for further information email@example.com and check the updates for the most recent developments.
7 August 2014
The situation in Ukraine remains unstable and Western countries keep implementing new sanctions against Russia and the opposition groups in the Ukraine’s self-proclaimed Donetsk and Lugansk People’s Republics. Since the USA introduced the first set of sanctions on 17 April 2014, new restriction measures in form of travel bans and assets blocks have been gradually implemented by the United Kingdom, Canada, Australia, Switzerland, Liechtenstein and the European Union against Russian and Ukrainian individuals and companies. The pressure intensified after the crash of Malaysian Boeing 777. Apart from the individual restrictions, a set of ‘sectoral’ sanctions was implemented against several Russian banks and companies, in a move to limit their foreign activity. On 5 August, Japan announced that it would be applying restrictions on payments and capital transactions for 40 individuals and two entities, as well as introducing 'an approval system' on imports from Crimea and Sevastopol. On 12 August, Norway announced that it would align with the sanctions imposed by the EU at the beginning of the month, thus implementing restrictions on long-term and mid-term loans to Russian state-owned banks, banning military imports and exports and also the supply of equipment to the Russian petroleum sector. Risk Advisory summarises all announced sanctions in the consolidated table, which you can find here for your convenience. The table is regularly updated. Our experts are closely monitoring the situation in Ukraine, including the most recent developments regarding sanctions. We are thus well-positioned to assist in understanding the implications of these developments for doing business in Russia and Ukraine.
7 April 2014
As you may know, the US has introduced sanctions against various Russian and Ukrainian state officials and businessmen (and one bank) as a result of events in Crimea. The nature of the sanctions is that any property of the individuals affected by the sanctions with which a US person (this includes legal entities) comes into contact must be blocked and that these individuals are not allowed entry to the US. The requirement to block property also affects any company that any one of these individuals controls. Most individuals who are subject to US sanctions are public officials who are deemed by the US authorities to be responsible for violations of Ukrainian territorial integrity and sovereignty, and/or for human rights violations in Ukraine. The EU has announced a similar set of sanctions covering largely the same group of individuals. It earlier announced sanctions against Ukrainian politicians, businessman and military officers close to the former President Victor Yanukovich. Sanctions against Russian and Ukrainian individuals have also been imposed by Canada, Australia, Switzerland and Liechtenstein. We have summarised all announced sanctions in a table, which you can find here for your convenience. (The Australian ones are not included because that country's government has not announced the names of the 12 people affected.) Risk Advisory is closely monitoring the situation in Ukraine, including the most recent developments regarding sanctions. We are well-positioned to assist in understanding the implications of these developments for doing business in Russia and Ukraine.
Please contact our Russia & Eastern Europe team for further information.
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