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Economic Sanctions

Over 40 years of articles and reference material

A page dedicated to global, regional, UK and US Sanctions updates

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UK issues Russia GLs for charities & media

OFSI has issued General Licence (GL) INT/2022/1834876, “Russia Designated Persons – Charities and Interim Managers and trustees” ( Notice ), which authorises until 30 May 2023 an Interim Manager and/or trustee...
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EU rules on freezing & confiscating assets of oligarchs

The Commission is also proposing new reinforced rules on asset recovery and confiscation, which will also contribute to the implementation of EU restrictive measures. While the Russian aggression on Ukraine is ongoing, it is paramount that EU restrictive measures are fully...
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UK issues licence for sale of Chelsea Football Club

The sale of Chelsea FC to US investor Todd Boehly has been approved by the UK Govt, bringing a close to Russian billionaire Roman Abramovich’s near 20-year ownership of the football club. The approval of the £4.25 billion ($5.3 billion) sale...
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Russia adds american public figures to its ban list

Russia has permanently banned close to 1,000 Americans from entering their country in response to the US support of Ukraine and the historic sanctions facing Moscow nearly three months into its invasion. The list includes Kamala Harris, Joe Biden, Oprah Winfrey...
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EU Commission updates Russia sanctions FAQs

The European Commission has updated its Russia sanctions-related FAQs on deposits, trading, public procurement, state-owned enterprises, sale of securities, customs and access to EU ports...
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US will not renew Russian debt Sanctions GL

OFAC has confirmed that it will not renew the provisions of Russia-related General Licence (GL) 9C that expired today, 25 May 2022. The expired provisions authorised: Transactions ordinarily incident and necessary to dealings in debt or equity of one of more...
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OFSI GL on Russian Travel for UK nationals

Under General Licence INT/2022/1839676  - A United Kingdom Person may purchase tickets from a DP or any Subsidiary for flights or rail journeys originating in, or within, Russia - A United Kingdom Person, Relevant Institution...
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FCA calls for reports of sanctions evasion

FCA wants to hear about sanctions evasion issues where they relate to firms on The Financial Services Register or our other registers, or companies with UK listed securities. The ways to report sanctions evasions to the FCA include...

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UK targets Russian airlines with new sanctions

State-owned Aeroflot, Russia’s largest airline, Ural Airlines and Rossiya Airlines will now be unable to sell their unused, lucrative landing slots at UK airports – preventing Russia from cashing in on an estimated £50 million...
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EU sanctions against Russia must apply to Belarus 

European Parliament urges that all EU sanctions against Russia must apply to Belarus. It was stated that Belarus and Russia jointly responsible for the war in Ukraine. The Belarusian regime’s crackdown on trade unions and the opposition must end...
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OFSI GL on Russia sanctions to Amsterdam Bank

OFSI has issued a general licence INT/2022/1678476 which allows a designated person to process payments and perform other tasks connected with ”winding down activities, basic needs and insolvency proceeding associated with the Amsterdam Trade Bank N.V.” or its...
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EBA new framework for reporting of deposits subject to Russian & Belarusian sanctions

EBA has designed an efficient framework for reporting of deposits subject to Russian and Belarusian economic sanctions with the aim to promote a convergent approach and to reduce any associated reporting costs, especially for cross-border banks...
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