Germany

Germany

introduces new fines in relation to the sanctions regime against the Russian Federation

05 Oct 2023

On 5 October, the 20th amendment to the Foreign Trade and Payments Ordinance (AWV) came into effect, introducing new fine provisions in relation to the following acts: acquiring or extending shareholdings in entities involved in the mining and quarrying sector in the Russian Federation; holding positions in the management bodies of Russian State-owned companies; allowing Russian nationals and residents to occupy positions in companies responsible for critical infrastructure, European critical infrastructure, and entities designated as such under national law.

Nature of measure:
  • Treatment and operation
Type:
  • Treatment and operation (Operational conditions)
Industry:
  • Not industry specific
  • Primary (Mining and quarrying)
Inward FDI:
No
Outward FDI:
No
Sources: