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EU extends sanctions Russia until July 2018

The European Union has extended the current economic sanctions against Russia by six months.

The sanctions which are due to expire late January will apply at least until July 2018. Despite these sanctions, companies can still do business with Russia. evofenedex advises importers and exporters to comply with the sanctions and legislation and to do their homework if they want to enter the Russian market.

Companies that do business in Russia must adhere to the sanctions and legislation since 2014. The EU imposed the sanctions in response to the Russian annexation of the Crimea. These sanctions mean that companies are not allowed to do business with certain Russian people on the sanction list. There is also a ban on the import and export of certain goods. These are military goods or goods that may possibly be used for military purposes, the so-called 'dual-use' goods. A license is required for certain goods.

Companies that want to enter the Russian market must comply with the sanctions. The 'Russian Handbook' (only available in Dutch) from the Dutch Ministry of Foreign Affairs can help.

Source: evofenedex


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