New UK Trade Sanctions Measures Announced: Russia Regime
Yesterday, 24 April, the UK Government announced a new package of trade sanctions under the Russia Regime. This wide-ranging package includes export bans on products including chemicals, electronics, machinery, plastics, and metals, further restricting Russian access to UK goods. This aligns UK sanctions with international partners, including the European Union.
Additionally, the UK has introduced prohibitions on the transfer, making available and ancillary services related to certain technology, sanctioning information flows associated with energy-related, advanced and industrial manufactured goods. Sectoral software and technology prohibitions have also been introduced, preventing the transfer and making available of business enterprise, industrial design, and oil and gas related software and technology (as listed in the legislation), as well as the provision of ancillary services related to this software and technology. Specific guidance on this is available below.
Import bans now cover synthetic diamonds processed in third countries and helium. These measures are designed to hit Russia's revenue streams critical to funding the war in Ukraine.
Communications:
The UK Sanctions List from FCDO lists which people, entities and ships are designated or specified under the Sanctions and Anti-Money Laundering Act 2018, and why.
The OFSI Consolidated List from HMT provides information relating to asset freeze and investment ban targets across all financial sanctions regimes implemented in the UK.
Contact us and find Support here: UK sanctions - GOV.UK
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