Also in the news...
Foreign travel advice Georgia
Warnings and insurance Still current at: 16 May 2024 Updated: 16 May 2024 Latest update: Information on the political situation across Georgia ('Safety and security' page).
How to market and package ecommerce products for maximum impact
To market and package your ecommerce products for maximum impact, start by understanding your target audience's demographics, passions, and daily struggles. Tailor your product descriptions and packaging to resonate with their identity, making them feel like part of a community.
Foreign travel advice Norway
Warnings and insurance Still current at: 13 May 2024 Updated: 13 May 2024 Latest update: This travel advice was reviewed for style and accuracy.
Guidance Living in Austria
Information for British citizens moving to or living in Austria, including guidance on residency, healthcare and driving.
Foreign travel advice Sweden
Warnings and insurance Still current at: 13 May 2024 Updated: 13 May 2024 Latest update: Removal of information about Eurovision Song Contest ('Warnings and insurance' and 'Safety and security' pages).
What is it – sanctions against Russia?
To be exact, sanctions against Russia do not exist. There are sanctions of the EU and the USA (and also some other countries, for example Switzerland or Norway) against certain Russian and Ukrainian persons (individuals and legal entities). In total in the lists there are 77 individuals and 20 legal entities (as of 27.05.2014).
At that the lists of the EU and the USA differ from each other. There are persons that are in both lists, and there are those that are marked only in one of them. At the moment there are no sanctions which would be applied against the whole country or the whole economic branch although this subject is still being discussed.
With sanctions, the EU and the USA try to exclude both individuals and enterprises from the economic activity of the EU and the USA. Therefore, for example, the property of the sanctioned persons should be frozen. The individuals are also deprived of the entrance on the territory of the EU and the USA.
Sanctions forbid any economic interaction with the listed persons, and also with the companies in which their ownership makes 50% or more. It means it is forbidden to obtain goods from the listed persons or to sell goods to them. Obtaining or rendering of services is also forbidden. It is illegal to manage property of sanctioned persons in any form, as well as to pay dividends to them.
And there is even more to consider. Along with the companies which belong to the specified individuals to 50% or more, the action of sanctions extends on the companies which although do not belong to them legally, but controlled by them, sometimes via straw men.
The legislation is complicated and based on sanctions which were introduced in the 90s and even earlier against other individuals or countries – for example, Iran, Cuba or North Korea. Thanks to the column "Questions and Answers" (Q&As) of RUSSIA CONSULTING you will always receive the required information. You can also order the check service of your Russian partners, clients and suppliers in RUSSIA CONSULTING and to get the information, whether the action of sanctions extends on them.
Article supplied by Russia Consulting