The 21st EU Sanctions Package

The 21st EU sanctions package continues the trend of expanding and tightening the existing sanctions regime against Russia under Regulations 269/2014 and 833/2014.

The package combines a targeted expansion of individual sanctions lists, stricter transactional and trade restrictions, as well as the introduction of new judicial protection mechanisms for European entities and enhanced oversight of crypto-assets.
Particular focus has been placed on the banking sector (94 new financial institutions designated under blocking sanctions and 33 additional banks subject to transaction bans), oil refining and logistics, as well as the introduction of anti-suit injunction mechanisms aimed at protecting European companies from legal claims brought in Russia.

Read more in the article prepared by Tatyana Neveeva, Marat Samarskiy, Nikita Zhemchugov, Animesh Mishra, Tatiana Zelenovskaia and Yulia Koroleva.