On 31 March 2022, the UK designated 14 additional Russian individuals and entities under the Russia (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/855). In particular, these include two Russian state media entities: (i) Rossiya Segodnya (which owns Sputnik); and (ii) TV-Novosti (which owns RT). Please see the full list of new entries and OFSI’s notice here.
The EU has today introduced a media ban that applies to the following Russian channels: RT- Russia Today EnglishRT- Russia Today UKRT – Russia Today GermanyRT – Russia Today FranceRT- Russia Today SpanishSputnik All EU broadcasting licences and authorisations and any transmission and distribution arrangements for these channels are suspended. Operators cannot broadcast or enable, facilitate or otherwise contribute to broadcast, any content by these entities. This includes transmission or distribution by any means such…
On March 1 and 2, 2022, the UK published four Regulations which introduce new financial, trade and shipping sanctions against Russia. New financial sanctions The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 introduce the following restrictions: Prohibition on dealing with securities or money-market instruments issued by, or providing loans/credit to a person connected with Russia (including Russian incorporated entities and residents) or the Russian Government. The aforementioned prohibitions also apply to all entities…
The Office of Financial Sanctions Implementation (“OFSI”) published an update to the monetary penalties for breaches of financial sanctions guidance on 28 January 2022 (see here). The guidance sets out how OFSI will decide when to use its civil enforcement powers to impose monetary penalties for breaches of financial sanctions, and how such penalties will be calculated. In the recent update, changes were made to the guidance on when OFSI will consider investigation and enforcement…