U.S. and EU Continue to Expand Ukraine-related Sanctions and Clarify Sanctions Targeting Russian Companies

8 January 2015
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Key takeaways:

  • The United States has imposed a comprehensive ban on trade with Crimea, and exporters of U.S. goods to Russia should consider implementation of effective safeguards to ensure that products sold to Russian distributors are not destined for Crimea.
  • The European Union has also extended its existing trade restrictions on Crimea and Sevastopol but has not imposed a comprehensive ban on all trade with the region.
  • Separately, the United States and European Union have provided clarifications and guidance regarding their respective sanctions targeting Russian companies, including the restrictions on providing finance to designated Russian companies and the sanctions on Russia’s energy industry.