On 16 June 2026, the UK announced a new package of sanctions under its Russian sanctions regime. The package targets Russia’s shadow fleet, financial networks, military procurement channels, and broader support infrastructure. In total, 70 individuals and entities have been designated under the new package. The sections below summarise the key elements of the package. New sanctions targeting Russia’s shadow fleet and maritime evasion A central focus of the new measures is Russia’s “shadow fleet”,…
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…
On 19 May 2026, the UK Government published the Russia (Sanctions) (EU Exit) (Amendment) Regulations 2026 (SI 2026/543) (the “Amendment Regulations”), introducing numerous amendments to the Russia (Sanctions) (EU Exit) Regulations 2019 (the “Regulations”). The Amendment Regulations introduce certain new trade prohibitions and expand existing controls across the Russia sanctions regime. The Amendment Regulations come into force on 20 May 2026 and, in short, include: Supplementing this, the Office of Trade Sanctions Implementation (“OTSI”) issued…
The UK’s Office of Financial Sanctions Implementation (OFSI) has introduced The Sanctions (EU Exit) (Miscellaneous Amendment) Regulations 2026 (the “Regulations”), which came into force on 13 May 2026. The Regulations create new powers for the UK government to impose licensing requirements on exports where it considers there is a high risk of the goods or related technology being diverted to a sanctioned person or destination. For further details about the Sanctions End-Use Controls and other…