Chambers And Partners Sanctions 2024 Guide

1. Trends and Overview

1.1 Sanctions Market

The UK's sanctions sector continues to expand exponentially, principally as a result of measures taken in response to Russia's continuing actions in Ukraine. Delays caused to criminal enforcement by under-resourcing and the COVID-19 pandemic have played some part in the UK's sanctions enforcement landscape remaining relatively quiet, though this is beginning to change, with activity in both criminal prosecution and monetary penalties.

1.2 Key Trends

Expanded Use and Provisions of the UK's Russia Sanctions Regime

The last 12 months or so have seen continued expansions in the list of designated persons (DPs) under the UK's Russia sanctions regulations, in the types of goods restricted under their trade sanctions heading, and in the plethora of provisions they include.