EU publishes guidance on Russia sanctions
02 Oct 2015 12:00 am
The EU has published a new FAQ on the implementation of its sanctions regime against Russia. These sanctions limit the access of Russian state-owned financial institutions to EU capital markets, impose an arms embargo, and restrict the access of Russian firms to certain sensitive technologies, particularly in the oil sector.
The FAQ covers several topics, including the meaning of providing financial assistance in the context of the arms embargo, when financing restrictions apply generally, how banks should ensure their compliance, the extent of the restrictions on access to capital markets, and the status of pre-existing loans.
This article first appeared on European Sanctions Law & Practice (http://europeansanctions.com/), a blog by Maya Lester (+44 20 7379 3550, email@example.com), a barrister at Brick Court Chambers, and Michael O'Kane (+44 (0) 20 7822 7777 firstname.lastname@example.org), head of Business Crime at Peters & Peters.