EU Regulations 810/2014 and 811/2014
On 25 July 2014 Council Implementing Regulation (EU) No. 810/2014 was published in the Official Journal of the EU so that 15 individuals and 18 entities have been added to the list of EU sanctions targets that are subject to an asset freeze. They include Donetsk People's Republic and Lugansk People's Republic, (which were targeted for asset freeze by the US with effect from 16 July 2014), and the commercial sea ports of Kerch and Sevastopol. Under the asset freeze measures, all funds and economic resources belonging to, or controlled by, the listed parties that fall under EU jurisdiction are required to be frozen, and no funds or economic resources may be made available – directly or indirectly – to or for the benefit of the listed persons by parties falling under EU jurisdiction. Parties falling within EU jurisdiction include vessels under the jurisdiction of an EU Member State, nationals (wherever located) of an EU Member State, and any legal person, entity or body inside or outside the territory of the Union, which is incorporated or constituted under the law of an EU Member State. The EU has now designated a total of 109 individuals and 20 entities pursuant to Regulations 269/2014 and 208/2014.
On the same date the EU published Council Regulation (EU) No 811/2014, broadening the grounds on which persons may be designated under Regulation 269/2014. The EU may now apply sanctions under Regulation 269/2014 to natural or legal persons who actively provide material or financial support to, or are benefiting from, the Russian decision-makers responsible for the annexation of Crimea or the de-stabilisation of Eastern-Ukraine.
Copies of the new regulations and an HMT Financial Sanctions Notice concerning EU Regulation 810/2014 can be downloaded from the links set out below.