A recent article authored by Elias Neocleous & Co LLC Associate Katerina Pillakouri, and published in the Cyprus Mail, explores the recent developments surrounding the European Union’s (EU) agreement on the 12th Russian sanctions package, in close cooperation with other G7 members, including the United States and the United Kingdom.
Finalized on 19 December 2023, the agreement represents a significant step in strengthening measures against Russia by implementing enhanced import and export bans, stricter asset-freezing, the enforcement of mechanisms related to the Russian oil price cap, combatting sanctions circumvention, and close existing loopholes. The comprehensive nature of this package is also highlighted through the inclusion of additional listings of Russian individuals and companies.
Katerina’s article provides insights into the key components of the sanctions package, underscoring the EU’s efforts to address ongoing geopolitical challenges by adopting an expansive scope of measures and regulatory enhancements to curb specific Russian activities, while strengthening the EU’s own economic and security interests.
The full article in the Cyprus Mail can be found online here.
For more information, please contact Katerina Pillakouri.