Russian companies are sanctioned by the EU again. Denis Durashkin, BGP Litigation associate, comments on the situation with Technopromexport for Vedomosti

Russian companies Interautomatika and Technopromexport involved, in the opinion of the European Union, in supply of the turbines manufactured by Siemens to Crimea, are sanctioned.

“Technopromexport has several projects in Asia (India, Iran) and Africa (Egypt, Algeria). In 2015, the company completed Sisak-3 CHPP construction in Croatia. Technopromexport’s projects may be affected by the sanctions if its partners have economic interests in Europe. But officially the sanctions of the European Union do not cover non-European companies and assets, though they provide for the actions aimed at compliance with the sanctions regime in third countries,” Denis Durashkin, BGP Litigation associate, notes.

The complete text of the article: "Payback for Turbines" (Vedomosti newspaper, № 4379 July 08, 2017)