On 14 August 2014, the Verkhovna Rada of Ukraine passed the new Law of Ukraine "On Sanctions". It establishes a statutory framework for imposing specific economic and other restrictive measures in Ukraine. The Law will become effective after it is signed by the President of Ukraine and following official publication. The Law will prevail in the case of discrepancies between the Law and any other Ukrainian legislation already adopted. In this briefing, we set out a summary of the Law.