Ukraine: The Parliament imposes its first-ever sectoral sanctions – GlobalComplianceNews

Category: Ukraine

The Sectoral Sanctions are effective for a period of five years and include, in particular, the following restrictions:

Because the Sectoral Sanctions have been applied for the first time in Ukraine since the approval of the Sanctions Law in 2014, we anticipate further official clarifications and a new enforcement practice from the Ukrainian authorities clarifying the exact scope of the application of the Sectoral Sanctions.

We recommend that Ukrainian residents and foreign companies doing business in Ukraine carefully assess any dealings involving Nicaragua for their compliance with the Ukrainian sanctions restrictions.

1.Resolution of the Verkhovna Rada of Ukraine No. 1167-IX dated 2 February 2021 On Approval of the Decision of the National Security and Defense Council of Ukraine dated 1 February 2021 On Imposing Sectoral Special Economic and Other Restrictive Measures (Sanctions) against the Republic of Nicaragua' effective from 4 February 2021.

2. Law of Ukraine On Sanctions No. 1644-VII dated 14 August 2014 (Sanctions Law).

See the original post here:
Ukraine: The Parliament imposes its first-ever sectoral sanctions - GlobalComplianceNews

Related Posts
February 26th, 2021
No comments yet

Comments are closed.