On 5 April 2022, the European Commission (the “Commission”) published new guidance for EU Member States relating to foreign direct investment (“FDI”) from Russia and Belarus (the “Guidance”). The Guidance aims to address the heightened risk that investments subject to the Russian or Belarussian government may pose to security or public order in the EU, especially with investments into critical assets in the EU. Whilst the EU has adopted sanctions against Russia and Belarus…

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