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Disputes continue regarding the application of anti-suit injunctions and force majeure due to sanctions
Russian courts continue to consider disputes related to sanctions restrictions imposed by foreign states. In March 2024, further rulings were adopted which developed the existing practice of applying the provisions of article 248.1 of the Arbitrazh Procedure Code of the Russian Federation (exclusive jurisdiction of Russian courts), article 248.2 of the Arbitrazh Procedure Code of the Russian Federation (anti-suit injunction) and article 401 of the Civil Code of the Russian Federation (force majeure) in connection with the imposition of sanctions. Read further in our legal update.
EU adopts 13th package of sanctions against Russia
On 23 February 2024, the EU published new regulations formalising the 13th package of restrictive measures (sanctions) of the European Union.
US introduces new blocking sanctions against Russia
On 23 February 2024, the US President announced a record number of sanctions against Russia, over 500 new restrictions on Russian and foreign persons. The new sanctions restrictions are for the most part made of blocking sanctions. The US Department of the Treasury’s Office of Foreign Assets Control has published an updated specially designated nationals list.
UK introduces new sanctions against Russia
On 22 February 2024, the UK announced new blocking sanctions that affected 50 Russian and non-Russian individuals and businesses linked to the Russian defence industry, metals industry, the manufacture and supply of electronics, diamonds, energy trade, etc.
Prohibitions and restrictions on export of certain categories of goods from Russia extended
On 27 December 2023, the Government of the Russian Federation published a resolution introducing a number of amendments to the previous resolutions of the Government concerning the restrictive measures on the export of certain categories of goods and equipment from the Russian Federation. Read further in our legal update.
New US sanctions: grounds for sanctions against foreign financial institutions and prohibitions on Russian goods
On 22 December 2023, the US Treasury Department announced the extension of sanctions against the Russian Federation and the issuance of three General Licences authorising certain transactions. In our legal update we outline the most significant changes.