Taking Stock: Russia-Ukraine Sanctions and Export Controls

As we enter the fourth month of Russia’s illegal war on Ukraine, multilateral sanctions actions continue, but at a slower pace. As discussed in our prior February 25, 2022 and March 11, 2022 alerts, following Russia’s invasion of Ukraine, the US, EU, UK, and numerous other jurisdictions swiftly imposed significant, coordinated sanctions on Russia’s leadership, elite, financial institutions, and sectors of the economy that support the war effort. As a May 14 G7 foreign ministers’ statement explains, these sanctions have sought to decrease Putin’s power base and isolate Russia from the global economy, while strangling Russia’s ability to perpetrate this war of choice. This alert takes stock of key EU, UK, and US sanctions actions since February 2022.