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With its tenth sanctions package, published in the Official Journal of the European Union on February 25, 2023, the EU has significantly tightened and expanded the sanctions against Russia. Companies should closely examine the effects on their business activities.
The new EU sanctions particularly aim to further weaken Russia financially and economically, thus impeding a continuation or even intensification of its war of aggression against Ukraine. The further sanctions are both related to persons and goods.
An overview of the sanctions against Russia:
Due to the very comprehensive amendments, we recommend that all companies carefully examine whether individual changes have an impact on their own business activities. It should also be noted that the prohibitions generally apply not only directly, but also indirectly.
It is therefore still imperative to refrain from even alleged acts of circumvention and thus avoid penalties and sanctions against one’s own company, management and employees.
Sven Pohl
Director
Attorney-at-Law (Rechtsanwalt)
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