The European Union agreed to impose further sanctions against Russia this week. The new round of EU sanctions was published in the Official Journal and came into force today, 12 September 2014. The restrictions are implemented through Council Regulation (EU) No 960/2014 (the "New Regulation") and Council Decision 2014/659/CFSP, amending Council Regulation (EU) No 833/2014 (the "Existing Regulation") and Council Decision 2014/512/CFSP, respectively, which target key sector cooperation and exchanges with Russia. For a review of these ‘Level 3’ EU sanctions which were issued on 30 and 31 July 2014 and associated guidance, we refer you to our Client Alert published on 1 August 2014.