News

New EU and UK sanctions against Russia

On 20 May 2025, the European Union (“EU”) and the United Kingdom (“UK”) announced new coordinated sanctions targeting Russia. Among the key sectors of the economy affected by the sanctions are the energy and military sectors. Our team summarises the main new introductions of the 17th EU sanctions package and UK sanctions in this legal update.

Russian Ministry of Finance significantly expands list of offshore and non-cooperative jurisdictions for tax purposes

The Russian Ministry of Finance has revised the list of states and territories that (i) provide preferential tax treatment and/or (ii) do not disclose or provide information on financial transactions. The updated List was introduced by Order No. 86n of the Ministry of Finance dated 5 June 2023 and entered into force on 1 July this year.

Jurisdiction of Abu Dhabi Global Market expanded to Al Reem Island

On 24 April 2023, Abu Dhabi Global Market, an international financial centre as a free zone, was expanded significantly to include Al Reem island.

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