On 8 September 2026, the UK government designated five settlers under the existing Global Human Rights Sanctions Regulations 2020 and announced that it will introduce a new sanctions regime targeting settlements in the occupied West Bank over the next six to nine months, under the powers conferred to it by the Sanctions and Anti-Money Laundering Act 2018. The announcement formed part of a coordinated cross-jurisdictional effort and was made alongside a joint statement by the UK and 11 other countries, including France, Canada, Denmark, Spain, Finland, Ireland, Iceland, Norway, Poland, Portugal, and Sweden. These countries committed…
On 23 July 2026, the European Council adopted its 21st package of Russia sanctions as well as additional measures targeting Belarus. The package concentrates on sectors with the greatest impact on Russia’s war economy, including energy, shipping, gold, financial services (including crypto), trade, and the Russian military-industrial complex. Key elements include a full-year suspension of the oil price cap adjustment, a new tool allowing transaction bans on named refineries that process Russian crude (listing one…
On 28 May 2026, the UK Financial Conduct Authority (“FCA”) published a detailed report outlining steps that financial institutions take to comply with sanctions requirements, including examples of good and poor practice. The report addresses both financial and trade sanctions measures, with financial institutions managing risks arising from their own activities and those of their customers. The report follows the FCA’s engagement with over 150 FCA-supervised firms since February 2022, and builds upon the FCA’s…
As part of the Annual Compliance Conference webinar series, this session explored the evolving global sanctions landscape in relation to Russia, over three years since the first wave of sanctions following the outbreak of war in February 2022. The panel examined the current state of play, recent developments, and what may lie ahead for businesses navigating this complex environment. Sanctions developments:Speakers provided updates on the 17th EU sanctions package (May 2025), including measures targeting the…