On 18 July 2025, the UK Government announced a lowering of the Oil Price Cap (“OPC”) to further inhibit Russia’s ability to use oil revenues to finance its illegal invasion of Ukraine. The OPC was first introduced in December 2022 to reduce Russia’s oil revenues in response to the invasion of Ukraine that same year. The OPC prevents G7 companies from shipping, insuring or servicing any Russian crude oil sold above the OPC price of…
In brief In recent years, intellectual property (IP) has become an increasingly important area of application for international sanctions. While sanctions have traditionally focused on restricting trade in goods, services, financial transactions and the movement of individuals, the scope has broadened to include intangible assets such as patents, trade secrets and software. This development reflects a growing recognition that IP rights are strategic assets that underpin critical technologies and industries. By restricting access to IP,…
On 21 July 2025, the UK government issued the General Trade Licence: Russia Sanctions – Sectoral Software and Technology (the “Sectoral Software Licence”) under Regulation 65 of the Russia (Sanctions) (EU Exit) Regulations 2019 (the “UK Russia Regulations”). The Sectoral Software Licence came into force on 21 July 2025 and will expire on 20 October 2025. The Sectoral Software Licence authorises providers located in or operating from within the UK and UK persons to transfer…
On 20 May 2025, the European Union adopted its 17th sanctions package in response to Russia’s ongoing war against Ukraine. Building on the extensive measures already in place, this package signals a further tightening of economic and legal pressure points, with over 2,400 individuals and entities now sanctioned. Notably, the package reflects a growing willingness by the EU to extend its sanctions regime not only in scope but in geographic and sectoral reach. This blog…