News from Poland—Business & Law, Episode 18: Economic sanctions against Russia
On April 16, 2022, the Act on Special Solutions to Counteract Support for the Invasion of Ukraine and to Protect National Security entered into force.
In short, the Act provides for implementing measures at the national level with respect to EU regulations on restrictive measures against Russia and Belarus.
The Act also introduces a Polish sanctions regime. The minister responsible for internal affairs will maintain a list of persons and entities to whom the measures regarding freezing of assets and economic resources provided for in the regulations will apply.
The Act also introduces a ban on the entry into Poland and transit through Poland of coal originating in Russia or Belarus.
The Act provides for administrative or criminal liability for violating EU and national restrictive measures against Russia and Belarus (as detailed in the Act). Any contractor or competitor from the sanction list will also be excluded from the public procurement procedure or competition.
News from Poland—Business & Law is a synthesis of important current events in the Polish economy and changes to Polish law, especially those that may concern management board members and affect the risk of serving on boards.
Konrad Grotowski, head of the firm’s Restructuring & Bankruptcy practice, is the host of the programme.
The programme is addressed to foreign directors of Polish companies, foreign investors in Poland, and their foreign advisers.
You may contact us with any questions or comments at: nfp@wardynski.com.pl.
