Welcome to BCL’s latest sanctions round-up, highlighting the key developments in UK and international developments in sanctions law and practice.
This edition covers, amongst other matters, updates to the UK’s sanctions list and the publication of FCA’s findings into sanctions systems and controls in financial services firms, alongside US sanctions developments, such as the publication of the Introduction to the Office of Foreign Assets Control (OFAC) Guide.
UK Policy Developments and Sanctions List updates
General Licence amendments
- On 26 May, General Licence INT/2024/4761108 (permitting non-designated individuals and entities to make use of certain “retail banking services” of credit and financial institutions designated under the Russia (Sanctions) (EU Exit) Regulations 2019 (the Russia Regulations) was amended.