anctions adopted following Russia’s military aggression against Ukraine.  The European Union (EU) continues to adopt further packages of economic sanctions against Russia due to the continuance of its military aggression against Ukraine, the latest of which is summarised below. The relevant legal framework is EU Regulation 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukr

The EU’s 12th sanctions package (Dec 2023) introduced Article 5r of Regulation 833/2014, requiring EU entities with over 40% Russian ownership to report quarterly transfers above €100,000 out of the EU (from 1 May 2024). EU credit and financial institutions must report such transfers semi-annually (from 1 July 2024). Reports use an EU template. Breaches risk fines or imprisonment, with Member States and the Commission reviewing compliance by Dec 2024.