In BCL's latest Sanctions and Export Controls: Fortnightly Summary, Partner John Binns, Associate Mohamed Naleemudeen and Trainee Solicitor Dimitri Naumenko-Pronin highlight the key UK and international developments from the past fortnight, including the EU's 21st sanctions package against Russia, HMRC's record settlement with Airbus for export control breaches, new OFSI guidance, and the latest US sanctions updates.
Key developments:
- The EU's adoption of its 21st sanctions package against Russia, introducing extensive new listings and measures targeting the financial, energy and trade sectors.
- New OFSI guidance clarifying the operation of Basic Needs Allowance licences and additional guidance to help businesses identify fraudulent communications purporting to be from OFSI.
- The implementation of a UN vessel designation under the UK's Libya sanctions regime.
- HMRC's record £6.4 million compound settlement with Airbus Operations Limited for export control breaches, alongside two further compound settlements involving UK exporters.
- The latest US sanctions activity, including new OFAC designations, updates to the SDN List, and the publication of new general licences and FAQs.
To read the full report, please click here.
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