12 months following the publication of its report ‘Defeating Putin: the development, implementation and impact of economic sanctions on Russia’, the UK’s Treasury Committee is seeking evidence on the UK’s approach to sanctions against Russia. The deadline for submissions is 28 March 2024, and contributors are encouraged to submit evidence on a number of issues, […]
Tag: trade sanctions
Shipshape? OFSI issues ‘refresh’ of maritime guidance
In a recent blog post, OFSI issues ‘refreshed’ guidance on the effect of financial sanctions in the maritime sector, including “new tactics used by illicit actors to evade UK financial sanctions”, emphasising the need for entities from a broad range of sectors – including financial services – to consider the same. The guidance itself highlights […]
UK Trade Sanctions – Licences for “divestment from Russia”
Regulation 65 of the Russia (Sanctions) (EU Exit) Regulations 2019 (“the Regulations”) allows the granting of licences in order to authorise acts which would otherwise be in breach of the various trade related restrictions contained within the Regulations. Responsibility for trade sanctions licensing in the UK sits with the Department for Business and Trade (DBT). […]