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Focus on Regulation

Ukraine and Russia Sanctions Developments

The European Union (EU) and the United States (U.S.) have now both taken targeted action to address the evolving situation in Ukraine. These measures do not impose restrictions on Ukraine or Russia, either territorially as countries or on their governments as a whole. However, new designations imposed on 17 March by the U.S. and the EU are significant, as described below, and therefore companies should assess their current operations in Russia and Ukraine. A number of the EU and U.S. designations overlap — Victor Yanukovych, former President of Ukraine; Leonid Slutshki, Chairman of the Commonwealth of Independent States Committee of the State Duma of the Russian Federation; Andrei Klishas, Chairman of the Committee on Constitutional Law of the Federation Council of the Russian Federation; Sergei Aksyonov, elected “Prime Minister of Crimea” on 27 February 2014; and Vladimir Konstantinov, speaker of the Supreme Council of the Autonomous Republic of Crimea.

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