Ukraine-Russia conflict [19] – sanctions: technical tidy-ups, investment restrictions and gold bars

20/7/22: The UK has tightened up earlier sanctions provisions, prohibited investment in land and legal entities in Russia and put blocks on exports of oil refining equipment, advanced technology and luxury goods to Belarus, and on imports of its iron and steel. There is now a European Union ban on the importation of Russian gold and the bloc’s sanctions have been extended for six months, to January 2023. The USA has likewise halted all gold imports from Russia and also designated another 70 entities, including Rostec, which is central to its defence, industrial, technology, and manufacturing sectors. Herbert Smith Freehills lawyers work through the fine detail of the legal instruments.