The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 24 Feb 2025 (EU):
The European Union ("EU") adopted new sanctions measures in respect of the illegally annexed regions of Crimea, Sevastopol, and non-government controlled areas of Ukraine (the "Specified Territories"), pursuant to Council Regulation (EU) No. 2025/401 and Council Regulation (EU) No. 2025/398 (the "Amending Regulations"), which amend Council Regulation (EU) No 692/2014 of 23 June 2014 and Council Regulation (EU) 2022/263 of 23 February 2022 (the "Regulations"), respectively. The new measures include, inter alia: restrictions on the export of certain goods and technology to the Specified Territories, professional services restrictions, controls on banknotes denominated in any official currency of an EU Member State, as well as a 'Best Efforts' obligation for EU operators to prevent non-EU subsidiaries that they own or control from participating in activities which undermine the Regulations.
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