Ukraine-Russia situation : the conflict in perspective.
The armed conflict between Russia and Ukraine has quickly degenerated into a global humanitarian, political, economic and military crisis with particularly complex ramifications.
In this new and highly volatile context, an unprecedented arsenal of measures, sanctions, restrictions and blockages is being put in place, both by Western countries and some third countries, as well as Russia.
August Debouzy is publishing this In Focus "Ukraine-Russia situation: the conflict in perspective" to provide an ongoing legal analysis of the situation and answer some of the most pressing questions, by taking a prospective and dynamic approach.
This In Focus will be updated in a near real-time basis to analyze and decode the situation, as well as make practical recommendations.
The firm’s lawyers are keeping a close eye on the situation, providing advice and information to companies to help them act in the face of this emergency.
War in Ukraine and economic sanctions : antitrust law is adapting to the circumstances but continues to apply
On March 21st, 2022, the European Competition Network, which brings together the European Commission, the EFTA Surveillance Authority (ESA) and the national competition authorities of the EU/EEA, including the French Competition Authority, published a joint statement on the application of competition law in the context of the war in Ukraine.
The Statement reiterates that the rules and mechanisms of competition law make it possible to take into account market and economic developments, especially in crisis situations and that competition rules ensure “a level playing field between companies”, and that these rules should continue to apply even in times of disruption such as now.
Summary of March 3rd, 2022 of the economic sanctions adopted by the EU in response to the war in Ukraine: impacts on the activity of Russian subsidiaries of European groups and possibility of using the force majeure shield
On February 21st, 2022, the President of the Russian Federation signed a decree recognizing the independence and sovereignty of the two separatist Ukrainian republics in the Donbas region, the republics of Donetsk and of Luhansk, and decided to send in troops to Ukraine. The European Union reacted immediately, through the voice of its High Representative for Foreign Affairs and Security Policy, by announcing as of February 22nd the unanimous adoption by the 27 Member States of several successive packages of sanctions targeting the Russian economy.
A first package of sanctions approved by the Council of the EU on February 23rd via 4 decisions and 5 regulations, introduced targeted measures to freeze the assets and resources of close to 400 individuals and entities and measures significantly restricting trade between the EU and the regions of the Donbas.
International economic sanctions adopted in response to the situation in Ukraine as of February 28th, 2022 and possible invocation of force majeure in the context of contracts in progress
On February 21st, 2022, the President of the Russian Federation signed a decree recognizing the independence and sovereignty of the two separatist Ukrainian republics in the Donbas region, the republics of Donetsk and of Luhansk, and decided to send in troops to Ukraine. The West reacted immediately to these manifest violations of international law and multilateral agreements by adopting a set of economic sanctions.
Following a special EU Council meeting of heads of state or government on February 24th and 25th, and the meetings of economy and finance ministers, and of the Foreign Affairs Council held on February 25th, additional measures were decided.
Sanctions and restrictive measures in the wake of the Ukrainian crisis : Latest developments
A first series of restrictive measures, taken by the European Union following the actions taken by Russia against Ukraine, resulted in the adoption and publication of 5 regulations on February 23rd (presented in a previous update on February 25th).
Following a special EU Council meeting of heads of state or government on February 24th and 25th, and the meetings of economy and finance ministers, and of the Foreign Affairs Council held on February 25th, additional measures were decided.
International economic sanctions adopted in response to the situation in Ukraine – Status as at February 24th, 2022
Monday, February 21st, the President of the Russian Federation signed a decree recognizing the independence and the sovereignty of the two separatist Ukrainian republics in the Donbas region, the republics of Donetsk and of Luhansk. This decision to recognize them as being independent and separate from Ukraine and the subsequent decision to send in military forces constitutes a clear violation of international law and numerous multilateral agreements that has brought about an immediate reaction from the West and the progressive adoption of a series of economic sanctions.
First, by the European Union which, through the voice of its High Representative for Foreign Affairs and Security Policy, Josep Borrell, announced as of February 22nd the unanimous adoption by the 27 Member States of a first package of sanctions.
