UIA Capsule – Sanctions on Russia: Status, Impact and Effects
Moderator: Veit Öhlberger (DORDA) Economic sanctions have become more relevant than ever. This webinar will give you an update on the status of the sanctions against Russia and guidance on their impact and effects on several important areas, such as commercial contracts, the food industry, the pharmaceutical and medical devices sector, the insurance market and arbitration proceedings. Also, the restrictions of sanctions on the movement of Russian citizens and the use of recreational vessels will be discussed. Welcome and Opening: Urquiola DE PALACIO DEL VALLE DE LERSUNDI, UIA President (Palacio & Asociados) 1. Overview of sanctions and sanctions lawmaking of the EU Speaker: Mareike Heesing (Oppenhoff) & Christoph Oertel (Brödermann Jahn) What are sanctions and which sanctions have been put in force against Russia, both from the EU and the US. On the example of the sanctions on the energy industry, it will be discussed how the practical approach varies between EU-Member States and how the EU's lawmaking process regarding sanctions has changed in 2022. 2. Effects of sanctions on pending contractual obligations Speaker: Mariaelena Giorcelli (Buffa, Bortolotti & Mathis) How to deal with pending contracts: Continue performance? Invoke a force majeure clause? Negotiate with the other party? These and other questions will be discussed by analyzing two cases regarding (i) the EU seller of sanctioned goods to Russia, and (ii) the EU buyer of restricted goods from Russia and the consequent impact on the supply chain. 3. Effects of sanctions on movement of Russian citizens Speaker: Ellen Freeman (Ellen Freeman Immigration Law Group) & Dirk Nuyts (EY) Discussion on the effects of sanctions on Russia on restrictions of movement of Russian citizens traveling outside Russia, with a focus on the Schengen zone and the United States. 4. Effects of sanctions on use of recreational vessels Speaker: Alberto Pasino (Zunarelli) Discussion of case-law on the freezing of recreational vessels, mainly from France and Italy, with a particular view on differences in case law and national legislation, despite a European framework. How are these different rules enforced and what problems are emerging from their application? 5. Knock-on effects of sanctions on food industry and on pharmaceutical and medical devices sector Speaker: Magdalena Zielinska-Kuc (WKB Wierciński, Kwieciński, Baehr) & Eliana Silva De Moraes (Silva de Moraes) Food and health products are not directly covered by sanctions, but both the food industry as well as the health-product-market are greatly affected by the sanctions and the war. In looking at these special areas, various issues will be discussed, such as the difficulties in exporting to the critical regions and to Russia and the problems in distributing fertilizers and in purchasing raw materials. 6. Impact of sanctions on insurance market Speaker: Frédérique Bannes (FB CONSEIL) Overview on the current situation regarding insurance coverages for risks in Ukraine and Russia. 7. Effects of sanctions on arbitral proceedings Speaker: Elena Gillis Cintrano (URÍA MENÉNDEZ) When may arbitral proceedings be impacted by sanctions? Which difficulties may arise during arbitration proceedings and, subsequently, during the enforcement phase, when sanctioned parties are involved?
