By Tommaso Fonti LL.M., Lucia Boccarossa and Cristina Piangatello

On 16 December 2024, the EU introduced a new sanctions package against Russia, significantly strengthening and expanding existing measures.

Impacts for Companies

The new sanctions introduce additional risks and restrictions for companies operating in sectors such as logistics, export and financial services.
It is therefore essential to verify trading partners, monitor restrictions on goods and technologies, and review contracts to ensure compliance.

Main changes

  • Sanctions against natural and legal persons

Added 54 individuals and 30 entities to the EU sanctions list, increasing the total to almost 2,400 subjects. These include individuals and entities connected to Russian defence and strategic sectors, as well as nationals from other countries involved in operations to circumvent sanctions.

  • Restrictions on goods and technologies

Expanded restrictions on dual-use goods and sensitive technologies to now target 32 new entities, including some located in third countries.

  • Prohibitions on maritime transport

Ban on access to EU ports and the provision of maritime services for 52 additional ships belonging to the so-called Russian ‘shadow fleet’ used to circumvent restrictions on oil exports.

  • Exclusion of Russian court judgments

Prohibition on recognizing or enforcing in the EU judgments issued by Russian courts, strengthening the protection of European companies against decisions coming from a non-neutral legal environment.

  • Targeted waivers and extensions

Authorised the release of liquidity held in EU central depositories to enable lawful transactions and extended specific waivers to facilitate European operators in divesting from Russia by.

How we can support you

The professionals at Bacciardi Partners are ready to provide you with all the assistance you need to ensure that your foreign trade operations comply with the new sanctions regulations.
Please do not hesitate to contact us for personalised advice and insights on how the new sanctions may impact your business.

Tommaso Fonti, Equity Partner – Head of Tax, Customs Law and Global Mobility
Lucia Boccarossa,  Associate – Tax
Cristina Piangatello, Of Counsel