NewsCase StudiesEvents

What is it – sanctions against Russia?

Also in the news...

UK seeks business views on response to US tariffs

Government begins process seeking business views on response to US tariffs

UK/Viet Nam: Free Trade Agreement

This treaty was presented to Parliament in April 2025.

How AI Is Fueling Creative Innovation for Startups Abroad

When most people think about starting a business overseas, their minds immediately jump to logistics: registering the company, navigating local laws, and finding office space. But one of the most exciting (and often overlooked) aspects of expanding internationally is tapping into the global pool of innovation especially in the realm of artificial intelligence (AI).

Support for UK businesses helping to rebuild Ukraine

Department for Business and Trade (DBT) initiatives to support UK businesses helping to rebuild critical infrastructure in Ukraine.

Now is the time to generate growth together with India

£400m of trade and investment wins from UK-India Economic and Financial Dialogue set to boost the British economy.

What is it – sanctions against Russia?

Back to News

To be exact, sanctions against Russia do not exist. There are sanctions of the EU and the USA (and also some other countries, for example Switzerland or Norway) against certain Russian and Ukrainian persons (individuals and legal entities). In total in the lists there are 77 individuals and 20 legal entities (as of 27.05.2014).

At that the lists of the EU and the USA differ from each other. There are persons that are in both lists, and there are those that are marked only in one of them. At the moment there are no sanctions which would be applied against the whole country or the whole economic branch although this subject is still being discussed.

With sanctions, the EU and the USA try to exclude both individuals and enterprises from the economic activity of the EU and the USA. Therefore, for example, the property of the sanctioned persons should be frozen. The individuals are also deprived of the entrance on the territory of the EU and the USA.

Sanctions forbid any economic interaction with the listed persons, and also with the companies in which their ownership makes 50% or more. It means it is forbidden to obtain goods from the listed persons or to sell goods to them. Obtaining or rendering of services is also forbidden. It is illegal to manage property of sanctioned persons in any form, as well as to pay dividends to them.
And there is even more to consider. Along with the companies which belong to the specified individuals to 50% or more, the action of sanctions extends on the companies which although do not belong to them legally, but controlled by them, sometimes via straw men.

The legislation is complicated and based on sanctions which were introduced in the 90s and even earlier against other individuals or countries – for example, Iran, Cuba or North Korea. Thanks to the column "Questions and Answers" (Q&As) of RUSSIA CONSULTING you will always receive the required information. You can also order the check service of your Russian partners, clients and suppliers in RUSSIA CONSULTING and to get the information, whether the action of sanctions extends on them.

Article supplied by Russia Consulting


You are not logged in!

Please login or register to ask our experts a question.

Login now or register.