On 6 June 2019, OFSI published guidance (available here) on the financial sanctions regime against Russia, which would apply if the UK leaves the EU without a deal and would be implemented through the Russia (Sanctions)(EU Exit) Regulations 2019 (the “Regulations”). The Regulations follow the the existing EU sanctions regime by imposing asset freezes in relation to designated persons, payment processing restrictions, financial services and investment restrictions, prohibitions on loan and credit arrangements and restrictions on Crimea-related investments.
