June 7, 2023

EU extends sanctions targeting Russian businesspersons to include immediate family members and others

On June 5, 2023, the Council of the European Union adopted Council Decision (CFSP) 2023/1094 and Council Regulation (EU) 2023/1089 to amend the restrictive measures for actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine.  The Council recently concluded that the Russian government has enabled prominent Russian businesspersons to increase their wealth through the exploitation of natural and other public resources.  The Counsil further determined that these businesspersons have attempted to circumvent sanctions by distributing their funds and assets to immediate family members and other persons.  As a result, the Council amended Decision 2014/145/CFSP and Regulation (EU) No 269/2014 to extend the criteria for imposing restrictive measures to include the immediate family members of these businesspersons; other natural persons who derive a benefit from these businesspersons; as well as any businessperson, legal person, entity or body involved in an economic sector that provides the Russian government with a substantial source of revenue.

Council Decision (CFSP) 2023/1094 | Council Regulation (EU) 2023/1089