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On 25 December 2018, the Russian Prime Minister signed Resolution No. 1656, which expands the list of Ukrainian individuals and legal entities subject to Russian sanctions.

The sanctions against Ukraine were initially introduced by the Russian Government on 1 November 2018 under Resolution No. 1300.  The sanctions include: (a) the blocking/ freezing of non-cash funds, non-documentary securities and property located within the Russian Federation, and (b) a ban on the transfer of money from Russia abroad.

Resolution No. 1656 adds 245 individuals and 7 companies to this list.  As a result, the current list includes 567 individuals and 75 companies from Ukraine.

Resolution No. 1656 entered into force on 25 December 2018.

Author

Alexander Bychkov is a partner in Baker McKenzie's Moscow office. Alexander Bychkov is the co-head of the Firm’s CIS Tax Practice Group and the head of the CIS International Trade and Customs group, which includes professionals working in the Moscow, St. Petersburg, Kyiv and Almaty offices. In addition, he is a member of the Firm’s Pharmaceuticals & Healthcare group. Since 2006 Mr. Bychkov has been consistently recognized as one of the leading professionals in the tax field within Russia and across the CIS. His practice is recognized by Chambers and International Tax Review.