The UK government has introduced further sanctions targeting Russia, amending measures targeting the aviation sector in particular and extending previous restrictions on Crimea.The Russia (Sanctions) (EU Exit) (Amendment) (No. 7) Regulations 2022 came into force on 30 March. Changes in this ...
The guidance has a new section on investments in Russia on page 5 to 6. It also updates the FAQs section on page 8 to 11 to reflect the Russia financial sanctions that have come into force since the Russian invasion of Ukraine.
13 Nov 2024 | Sanctions On 7 November 2024, the UK unveiled its largest sanctions package against Russia since mid-2023, aiming to weaken Russia's military and curtail Russian-backed mercenary operations worldwide. With 56 new designations, the sanctions directly impact Russian supply chai...
On June 13, the UK declared its first specific sanctions against the tankers in the shadow fleet, moving Russia’s oil as part of a broader effort in association with the G7 nations at the beginning of the summit in Italy. The most recent sweeping effort that the UK mentioned in...
On 21 June 2022 the UK government imposed further trade restrictions against Russia under The Russia (Sanctions) (EU Exit) (Amendment) (No. 14) Regulations 2022 which amend The Russia (Sanctions) (EU Exit) Regulations 2019) (“the Regulations”). A copy of the consolidated Regulations can be...
Statutory Guidance on the sanctions are provided here. It seems that a person/entity “connected with Russia” is defined as: • an individual who is, or an association or combination of individuals who are, ordinarily resident in Russia, • an individual who is, or an a...
Financial sanctions guidance for Russia OFSI has updated its guidance documents to reflect these changes to sanctions legislation – seehere. OFSI has published new guidance in relation toLetting AgentsandInsolvency Practitioners, and updated theHigh Value Dealer and Art Market Participantguidance, to...
Despite China's representations and the sound development momentum of China-UK economic and trade relations, the UK insisted on listing Chinese companies in the latest round of sanctions against Russia. Such move will have a negative impact on the bilateral economic and trade relations, said a spo...
under the Russia Regulations in a number of recent cases. While the court has sought to clarify and provide guidance regarding the interpretation of the test, the judgments have led to considerable uncertainty for companies seeking to navigate this complex area and to comply with UK sanctions. ...
1See our 22 January 2024 alert “UK Announces Creation of New Trade Sanctions Enforcement Agency and Introduces Further Sanctions Against Russia” for a discussion of the UK government’s announcement of the creation of OTSI. 2This client alert is for informational purposes only and does...