UK, EU And US Sanctions On Russia

With the rapid expansion of UK, EU and US sanctions on Russia and Belarus in recent weeks - and with more in the regulatory pipeline - we set out:

1. What's New (to 6 June)
2. A 5-step checklist for assessing how your activities may be affected
3. A Sanctions Summary

1. WHAT'S NEW

UK

• On 28 May 2024, the UK introduced new Regulations to expand the criteria for the people and entities who can be designated under the UK Russian sanctions regime, as set out in Regulation 6 of the Russian (Sanctions) Regulations 2019. The new criteria permits the designation of people or entities for:
  • Providing financial services, or making available funds, economic resources, goods or technology to persons involved in obtaining a benefit from or supporting the Government of Russia; and