New Russia sanctions target export of luxury goods, the Russian energy sector and certain state-owned enterprises

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Late yesterday, the European Union (“EU”) adopted further sanctions against Russia. The measures introduce a ban on the export of all luxury goods as well as a ban on new investment across the Russian energy sector. Additionally, restrictions on any transactions with certain Russian state-owned enterprises are imposed, certain import restrictions are put in place, and new individuals and entities are added to the asset freeze list. Danish companies should take action to ensure compliance with these new sanctions, as well as the pre-existing sanctions…

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