The European Union has shifted its approach to sanctions circumvention as recent data suggests that the circumvention of export sanctions on Russia totaled roughly €8 billion in 2022 alone.

In an article recently published by Euractiv, Technology Transactions partner Steven Farmer and Regulatory associate Iris Karaman discuss the EU’s new sanctions tool, which now makes it possible to punish countries that aid Russia in evading sanctions. The article also explores concerns surrounding the tool as diplomats fear punitive measures will “drive third countries into the orbit of Russia.”

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