Extends sanctions on the Russian Federation to include investment restrictions

New EU sanctions having taken effect on 20 December 2014 prohibit a broad range of investment in Crimea or Sevastopol. EU nationals and EU incorporated companies are prohibited from buying real estate in the region, acquiring or extending an interest in local companies, financing local companies, creating joint ventures, or supplying investment services in relation to such activities. Investment and lending restrictions apply to an "entity in Crimea or Sevastopol", which is defined to mean "any entity having its registered office, central administration or principal place of business in Crimea or Sevastopol, its subsidiaries or affiliates under its control in Crimea or Sevastopol, as well as branches and other entities operating in Crimea or Sevastopol".

• Type:

  • Entry and establishment (Ownership and control)

• Industry:

  • Not industry specific

• Sources:

  • Official Journal of the European Union, Council Regulation (EU) No 1351/2014, http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ%3AJOL_2014_365_R_0006&from=EN, 19 Dec 2014
  • Herbert Smith Freehills, EU extends sanctions relating to Crimea and Sevastopol and European Commission issues guidance on existing Russian sanctions, http://www.herbertsmithfreehills.com/insights/legal-briefings/eu-extends-sanctions-relating-to-crimea-and-sevastopol-and-european-commission, 19 Dec 2014