Sanctions against Russian companies and enterprises

23 May 2023
Sanctions against Russian companies and enterprises
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Presidential decree #279/2023 of May 12, 2023 

Decision-maker: the President 

Who is affected: Russian and other foreign companies, natural persons subject to sanctions, and the international community 

Summary of the decree: 

  • Ukraine imposed sanctions against 37 natural persons and 212 legal entities, among them the Dutch VS Energy Group, which owns a share of the Dneprospetsstal plant in Zaporizhzhia, the shopping centers Metrograd and Metropolis in Kyiv, and other legal entities connected to Medvedchuk and other sanctioned persons, founders, managers, and beneficiaries of pro-Russian companies that have significant assets in Ukraine. Sanctions are also imposed against citizens of Ukraine 
  • the following restrictions are imposed against natural persons: the blocking of assets, prevention of capital withdrawal from Ukraine, prohibition to participate in privatization, ban on entering the territory of Ukraine, and prohibition to buy land 
  • the following sanctions are imposed against legal entities: blocking of assets, a complete halt of trade operations, prohibition to participate in privatization and procurements, and prohibition to transfer technologies 
  • sanctions against these natural persons and legal entities are imposed for 10 years. 

What is right: Russia will have less influence on enterprises of critical infrastructure in Ukraine. 

What is wrong: it is illegal to impose sanctions against Ukrainian citizens.