The Council of the European Union Greenlights the Directive Introducing Criminal Offences and Penalties for EU Sanctions Violation

On 12 April 2024, the Council of the European Union formally endorsed the adoption of a Directive aimed at defining criminal offences and penalties related to the violation of EU sanctions.

The EU's General Court Annuls Sanctions Imposed on Russian Businessmen Petr Aven and Mikhail Fridman for the Period of February 2022 and March 2023

EU's General Court has annulled sanctions imposed on two Russian businessmen Mikhail Fridman and Petr Aven, major shareholders of Alfa Group, for the period of February 2022 and March 2023.

Pivotal Judgment by the UK High Court on Redemption Rights

The UK High Court ruled that a company controlled by a sanctioned person has no right to funds redemption.