... sanctions against individual countries that circumvent EU export controls. So far, these measures have not been taken. It is quite possible that Brussels is setting aside steps for the further escalation of sanctions.
The UK has extended blocking financial sanctions to a number of large Russian industrial companies. The country has also decided to introduce secondary sanctions against Russia’s partners from third countries, but unlike Brussels, it has applied the mechanism of blocking sanctions to them.
They include companies from Turkey, China, the UAE and Switzerland.
The lists of blocked persons have ...
... countries may face administrative and even criminal prosecution by US authorities. In other words, Washington’s blocking sanctions extend far beyond US territory. Given the still-high role of American financial institutions in the global economy, US sanctions affect many countries. Even businesses in Russia-friendly jurisdictions are forced to take the threat of secondary sanctions seriously—that is, being added to the list of blocked persons for transactions with people and structures already on this list. The risks of being involved in criminal and administrative investigations are also taken seriously, at ...
Such sanctions are unlikely to ensure the blockade of Russia desired by the Western initiators. This was not achieved even with respect to Iran, whose economy is smaller than Russia's
Another package of US sanctions has caused a stir in connection with restrictive measures against companies from Kyrgyzstan ...
... to many criminal cases is that the basis for the accusatory documents is the electronic correspondence of the participants in the transaction, as well as signals to the authorities from the manufacturing companies, which were contacted by the accused Russian citizens and their partners.
Along with criminal cases, the number of cases of secondary sanctions, that is, blocking financial sanctions for transactions in favour of previously blocked persons, is also growing. Since the beginning of 2023, the US Treasury has imposed such sanctions on people from China, India, Armenia, Kyrgyzstan, Switzerland, Liechtenstein and a number of other ...
... export restrictions, and criminal and administrative prosecutions. In the first case, the US Treasury simply imposes blocking sanctions on individuals and entities that are suspected of circumventing sanctions. Such measures were widely used against Russian counterparties abroad under all large packages of US sanctions in 2023. Citizens and companies from India, China, the United Arab Emirates, Switzerland, Liechtenstein, Cyprus, Malta, etc. fell under secondary sanctions. In each such case, the Americans had no problems with the official authorities of these countries. By default, it is understood that these persons acted at their own peril and risk, and not on the order of the government in their ...
... structures, business is showing much more nervousness and caution. Business fears secondary sanctions. If earlier the EU opposed secondary sanctions, today it is ready to apply them against Russia—such a legal mechanism has already appeared in Council Regulation (EU) No 269/2014. In addition, the European Union is ... ... harmonise the legislation of the member states aimed at the administrative and criminal prosecution of those who violate the sanctions norms of the Union. The application of such regulations would require a link to the EU jurisdiction.
The special envoy ...
... sanctions regimes against Russia under the Ukrainian package. The new legal mechanism suggests that the European Union is adopting secondary sanctions similar to those used by the United States for a long time.
Ivan Timofeev:
Is It Possible to Lift Sanctions Against Russia? — No
The essence of secondary sanctions is that financial restrictions are applied for interaction with blocked persons. That is, any financial transactions with those who are already on the list are fraught with being included in the same list. The new rule does not specify ...
