On Monday 11 December 2023, the UK Government updated its Notice to Importers (see here), published a new General Trade Licence (see here) and updated its guidance (see here) in relation to the UK’s iron and steel sanctions targeting Russia. As noted in our previous blog in April 2023, the UK introduced sanctions imposing a prohibition on the import of iron and steel products where the metal originated in Russia but was processed in a…
The UK Industry and Economic Security Minister, Nusrat Ghani, has today announced the creation of a new government unit to “crack down” on companies evading sanctions; the Office of Trade Sanctions Implementation (OTSI). The OTSI will launch in early 2024 once the new legal requirements are in place and will operate alongside the existing work the government is doing to ensure UK trade sanctions are adhered to. The unit will be responsible for civil enforcement of…