On 23 July 2026, the EU adopted its 21st package of sanctions against Russia. With 216 new individual listings, this represents the largest number of new listings in the past four years.
On 15 June 2026, new sanctions against Russia were published, apparently as an anticipated part of the 21st sanctions package, and existing EU Regulations were amended accordingly.
Further sanctions against, amongst others, the shipping and energy sectors, expanded transaction bans and export bans, now also extending to the Kyrgyz Republic.
By Presidential Decree (“Ukaz”), Russia has suspended the application of the main provisions of double taxation treaties (hereinafter referred to as “DTTs”) with what it calls “unfriendly states”.
Russia has adopted countermeasures through various presidential decrees and government orders, which are mainly aimed primarily aiming at protecting the capital market, but also at restricting the export of goods.
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