International Sanctions Widen as Ukraine Crisis Deepens
Months of diplomacy between the West and Moscow failed to prevent the crisis overtaking Ukraine last week. On February 21 the Russian Federation formally “recognized” the Luhansk People’s Republic (“LNR”) and the Donetsk People’s Republic (“DNR” and, collectively with LNR, “Donbas”), consisting of broad areas in eastern Ukraine partially held by Russian separatists. In official decrees that immediately followed, President Vladimir Putin ordered his defense ministry to “maintain peace” in the regions. Within 48 hours, Russia began its invasion of Ukraine with military troops that had been amassing since November 2021 on Ukraine’s eastern, northern and southern borders, including positions in Crimea [1] and Belarus.
Russia’s invasion of Ukraine has been met with swift international condemnation as well as the announcement and imposition of unprecedented and coordinated economic, financial and trade sanctions and export controls by the United States, the United Kingdom and the European Union, and other countries including Canada, Japan, Australia, New Zealand and Singapore.[2] These sanctions and export controls were rolled out in waves during the final week of February.
This legal bulletin provides our readership with an aggregated summary of those measures.
U.S. Sanctions Against Donbas
U.S. Sanctions Against Belarus
UK Sanctions and Export Controls
EU Sanctions and Export Controls
United Nations Security Council
[1]The Russian Federation “annexed” the Crimea region of Ukraine in 2014.
[2]Condemnation has come from many non-governmental sources as well, including the International Chamber of Commerce, which acknowledged the inevitability of sanctions, but expressed concern over their potential effect on supply chains. See Statement of ICC Secretary General John W.H. Denton AO (Feb. 24, 2022) ICC statement on Russia–Ukraine conflict - ICC - International Chamber of Commerce (iccwbo.org)
Vedder Thinking | Articles International Sanctions Widen as Ukraine Crisis Deepens
Newsletter/Bulletin
March 2, 2022
Months of diplomacy between the West and Moscow failed to prevent the crisis overtaking Ukraine last week. On February 21 the Russian Federation formally “recognized” the Luhansk People’s Republic (“LNR”) and the Donetsk People’s Republic (“DNR” and, collectively with LNR, “Donbas”), consisting of broad areas in eastern Ukraine partially held by Russian separatists. In official decrees that immediately followed, President Vladimir Putin ordered his defense ministry to “maintain peace” in the regions. Within 48 hours, Russia began its invasion of Ukraine with military troops that had been amassing since November 2021 on Ukraine’s eastern, northern and southern borders, including positions in Crimea [1] and Belarus.
Russia’s invasion of Ukraine has been met with swift international condemnation as well as the announcement and imposition of unprecedented and coordinated economic, financial and trade sanctions and export controls by the United States, the United Kingdom and the European Union, and other countries including Canada, Japan, Australia, New Zealand and Singapore.[2] These sanctions and export controls were rolled out in waves during the final week of February.
This legal bulletin provides our readership with an aggregated summary of those measures.
U.S. Sanctions Against Donbas
U.S. Sanctions Against Belarus
UK Sanctions and Export Controls
EU Sanctions and Export Controls
United Nations Security Council
[1]The Russian Federation “annexed” the Crimea region of Ukraine in 2014.
[2]Condemnation has come from many non-governmental sources as well, including the International Chamber of Commerce, which acknowledged the inevitability of sanctions, but expressed concern over their potential effect on supply chains. See Statement of ICC Secretary General John W.H. Denton AO (Feb. 24, 2022) ICC statement on Russia–Ukraine conflict - ICC - International Chamber of Commerce (iccwbo.org)
