• It is necessary to constantly monitor the current situation. For example, we recommend the following link regarding EU sanctions: https://www.consilium.europa.eu/sk/policies/sanctions/restrictive-measures-ukraine-crisis/history-restrictive-measures-ukraine-crisis/

• Business partner verification – are business partners or their owners on sanction lists?

• Attention! Sanctions are only applied to companies if the sanctioned owner has at least a 50% stake in them

• Bans in specific sectors – such as energy – need to be monitored

• Is the subject of the contract subject to sanctions? Products made of steel or iron, luxury products

• Pay attention to the transitional periods for imports of steel and iron products

• Banking and monetary restrictions need to be taken into account

• Pay attention to local national restrictions (ban on coal imports in Poland, planned exclusion of entities from public procurement in Slovakia)

• The obligation to report the assets of sanctioned persons

Please note that if you do not apply the applicable sanctions, your company may face a fine or it is possible that no claims from such a transaction will be recognised. The potential reputational risks must also be considered. If sanctions are applied beyond the applicable framework, there is a risk that your company will bear the consequences of a breach of contract. If you are unsure, we recommend complying with reporting obligations under national implementing law for international sanctions.

A document summarising the sanctions imposed in response to Russia's invasion of Ukraine: https://www.eversheds-sutherland.com/documents/global/Slovakia/en/Russian_and_Belarusian_sanctions_update.pdf

• Bernhard Hager
• Managing Partner
• +420 255 706 500

• Katarína  Majtásová
• Senior Associate
• +421 232 786 411

• Petra Marková
• Senior Associate
• +421 232 786 411

• Michal Růžička
• Senior Associate
• +420 255 706 530

• Jan Kohl
• Junior Associate
• +420 255 706 517