Dentons Ukraine

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust. Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions. We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities. We incorporate the most advanced Western legal techniques and practices into our work.

The Ukrainian law, “On Sanctions,” is silent on the principle of territoriality, opening different potential interpretations, including those suggesting that Ukrainian sanctions should apply to transactions with a Ukrainian nexus—such as those involving Ukrainian assets or entities. However, the Supreme Court has now explicitly confirmed the extraterritorial application of Ukrainian sanctions.

The recently issued decision of the Ukrainian Supreme Court addresses the enforcement of Ukrainian sanctions in relation to foreign corporate structures and ownership chains involving a sanctioned person. The Ukrainian law, “On Sanctions,” is silent on the principle of territoriality, opening different potential interpretations, including those suggesting that Ukrainian sanctions should apply to transactions with a Ukrainian nexus—such as those involving Ukrainian assets or entities.