Ukraine – further sanctions developments

As previously reported, the EU and US have introduced targeted economic sanctions against certain Russian officials in relation to the current situation in Crimea.  This update provides an overview of further developments on 18 and 19 March 2014.

Australia announces the imposition of sanctions

On 19 March the Australian Minister for Foreign Affairs announced that the Australian government would impose targeted financial sanctions and travel bans against "individuals who have been instrumental in the Russian threat to the sovereignty and territorial integrity of Ukraine".  The announcement states that the financial sanctions and travel bans will cover 12 Russian and Ukrainian individuals but the names of those individuals have yet to be published.

UK export control measures

On 18 March, Foreign Secretary William Hague made a statement to the House of Commons stating that the UK will, with immediate effect suspend all extant licences and application processing for licences for direct export to Russia for military and dual use items destined for units of the Russian armed forces or other state agencies which are or could be deployed against Ukraine.  He announced that the UK would also suspend licences for export to third countries for incorporation into equipment for export to Russia where there is a clear risk that the end produce will be used against Ukraine.  

Mr Hague's speech also encouraged other European nations to take similar action.

The Department for Business Innovation and Skills has issued a notice in respect of this development.

Future EU developments

The EU Council is meeting in Brussels on 20 and 21 March.  The agenda for this meeting has been published and indicates that there will be a discussion of the situation in Ukraine over dinner on 20 March.  It is therefore possible that there will be further developments on 21 March following this discussion.