EU Broadens the Scope of Sanctions and Restrictive Measures Targeting Russia

The EU has implemented a program of sanctions and restrictive measures designed to target Russia and persons responsible for actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine. Whilst these measures had previously been limited to asset freezes against a number of named individuals and entities, Regulation 833/2014 of 31 July 2014 (the “Regulation”) has broadened the scope of these measures to impact the wider Russian economy, including its energy industry and financial sector.