The EU announced a new country-specific framework for restrictive measures addressing human rights violations in Russia by adopting Council Regulation (EU) 2024/1485.

The new regime will allow the EU to target those who provide financial, technical, or material support for, or are otherwise involved in or associated with people and entities committing human rights violations in Russia, by prohibiting

• to sell, supply, transfer or export, directly or indirectly, equipment, technology or software which might be used for internal repression (including various monitoring, forensic, code breaking, pattern recognition and profiling equipment) to any natural or legal person, entity or body in Russia or for use in Russia
• to provide technical assistance or brokering services related to such equipment
• to provide financing or financial assistance, including in particular grants, loans and export credit insurance, as well as insurance and reinsurance, related to such equipment, technology and software.
• to provide any telecommunication or internet monitoring or interception services to, or for the direct or indirect benefit of Russia’s government, public bodies, corporations and agencies or any person or entity acting on their behalf or at their direction.

As a part of the new framework one entity and 19 individualswere sanctioned. Those listed are subject to an asset freeze and EU citizens and companies are forbidden from making funds available to them. Natural persons are additionally subject to a travel ban, which prevents them from entering or transiting through EU territories.

For a full list of sanctions you may visit the website of the Sanctions Monitoring Board.  Should you need assistance in determining whether you can accept a client or continue serving a client that may be hit be sanctions, you may send your request to our compliance team, and a member of our team will get in touch with you. 

Further Insights on Sanctions

• Russian sanctions on software service providers
• Proposed Harmonized EU rules on the Enforcement of Sanctions