Foreign trade law in Germany: Rising compliance requirements in business with Russia
German companies’ business with Russia continues to grow. At the same time, however, the legal hurdles for such business are increasing as well. A complex regulatory environment exists in which some provisions overlap or even conflict with each other. Since 2014, the European Union has been imposing sanctions due to Russia’s annexation of the Crimea, and these sanctions were renewed for a further six months in December 2018. The US recently tightened its sanctions again, and these may also impact German companies as they have extraterritorial effect. In turn, Russia has reacted with counter-measures that may likewise have a major impact on German companies.