One year and counting since the invasion of Ukraine, cracks are appearing in the sanctions regime, Ben Keith, Rhys Davies & Olivia Chessell at International Human Rights Advisors report in this week’s NLJ.
They note that Magnitsky sanctions have been imposed on Bulgarian oligarchs as well as those with connections to President Vladimir Putin. However, a recent case may encourage designated individuals to bring legal challenges. Moreover, states tend to put their own economic interests first. Consequently, the punitive measures imposed on Putin’s funders and friends are proving ineffective.
Keith, Davies and Chessell write: ‘It is imperative that the UK, EU, US and other states maintain a robust, coherent and joined-up approach to sanctions… A piecemeal approach to sanctions, with erosion here and there, risks undermining the entire edifice.’
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