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As tensions have escalated in eastern Ukraine in recent weeks with Russia consolidating its grip on Crimea, and thousands of Russian troops remain massed near the Ukrainian border, speculation has mounted that US and EU Sanctions Regimes in General may be widened. How would such sanctions be applied in practice and how would they be operated?
To date, sanctions have been enforced on a very narrow circle of contacts and influencers close to the Russian regime. However in case of further escalation a much wider range of (economic) sanctions remain available, including: trade embargoes, export controls, asset freezes, travel bans, “targeted sanctions”, activity-based sanctions and restrictions on financial assistance.