Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 02 JUNE 2022

Navigating Sanctions: Expansion Of Russian Sanctions Regime In Bermuda

Appleby
Appleby
Contributor
Appleby

Appleby

Appleby is a leading offshore law firm. The team of legal specialists advise global public and...

View firm profile
Explore more from Appleby

Bermuda entities should carefully assess their business in light of rapidly evolving financial and trade sanctions imposed against Russia following the invasion of Ukraine in February 2022.

BermudaInternational Law
Alan Bossin
Alan Bossin
Sally Penrose
Sally Penrose
Author LinkedIn connections

The sanctions regime is complex with the expectation that further measures will be adopted by the UK, EU and US as the situation in Ukraine develops.

Appleby is actively tracking these developments, and is advising clients on the legal and practical impacts of these measures.

Overview of Bermuda Sanctions Regime

The UK's sanctions related to Russia are implemented through the Russia (Sanctions) (EU Exit) Regulations 2019 (Sanctions Regulations) which were subject to several significant amendments in February and March 2022.

The Russia (Sanctions) (Overseas Territories) Order 2020 (OT Order) adopts the Sanctions Regulations with appropriate revisions to apply to British Overseas Territories.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

BMA Sets Out Phased Path To A Bermuda Insurance Resolution Regime

The Bermuda Monetary Authority has published a consultation paper outlining the first phase of a resolution regime for the commercial insurance sector, designed to align with international standards. The framework establishes the BMA as the Resolution Authority with five core objectives and defines which insurers will fall within scope. This phased approach raises important questions about governance, recovery planning, and the practical implications for domestic insurers and Internationally Active Insuranc
BermudaInsurance
Appleby
Appleby
Article

The Long Game: How Bermuda Became The World’s Life Reinsurance Capital

Bermuda has emerged as the dominant global hub for life and annuity reinsurance, now holding over $900 billion in US life and annuity liabilities and accounting for 84% of all US reserves ceded offshore. This analysis examines how the island's sophisticated regulatory framework, purpose-built infrastructure, and commercially engaged regulator have created a structural advantage that extends beyond its traditional catastrophe reinsurance roots into long-dated life business from the US, UK, and Asia.
BermudaInsurance
Appleby
Appleby