US and EU Impose Additional Sanctions on Russia

September 15, 2014

The United States and European Union implemented new sanctions against Russia on 12 September 2014 as a result of the ongoing crisis in Ukraine. While the new US and EU measures share many similarities, companies subject to both US and EU law should carefully review each set of sanctions to ensure that activities involving Russia are not affected by the new measures.

EU officials have stated that depending on the results of a comprehensive review to be conducted at the end of September regarding the implementation of the Ukrainian peace plan, some or all of the EU measures against Russia could be amended, suspended or repealed in their entirety. US officials have not made any similar statements, but likely would act in coordination with the EU to loosen or remove sanctions against Russia if there is significant positive progress in Ukraine.