US and EU prepare further sanctions against Russia

January 01, 1970

Posted on June 18, 2015 by Maya Lester on

Following a joint statement made by leaders at the G7 summit in Germany affirming their commitment to further sanctions on Russia "should its actions so require" (see previous blog), the US and EU governments have prepared a new round of sanctions on Russia that are "locked and loaded" depending on what happens in Ukraine.  These would go beyond the existing set of economic sanctions against Russia that are likely to be renewed by European foreign ministers on 22 June (see previous blog).

Reports suggest that the sanctions could include more Russian officials and businessmen in the asset freezes and travel bans, and add measures targeting Russia's fuel exports, cutting off Russian banks from international financial markets, and limiting the ability of Russian businesses to enter into transactions outside Russia.

US Secretary of State John Kerry stated that any implementation of new measures "depends on what happens on the ground" and on President Putin's support for a ceasefire.

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End notes

This article first appeared on European Sanctions Law & Practice (, a blog by Maya Lester (+44 20 7379 3550,, a barrister at Brick Court Chambers, and Michael O'Kane (+44 (0) 20 7822 7777, head of Business Crime at Peters & Peters.