The UK has recently adopted the following pieces of legislation which introduce new restrictions against (mainly) Russia and Belarus. Russia (Sanctions) (EU Exit) (Amendment) (No. 11) Regulations 2022Russia (Sanctions) (EU Exit) (Amendment) (No. 12) Regulations 2022Russia (Sanctions) (EU Exit) (Amendment) (No. 13) Regulations 2022Russia (Sanctions) (EU Exit) (Amendment) (No. 14) Regulations 2022The Customs (Additional Duty) (Russia and Belarus) (Amendment) (No. 2) Regulations 2022 The UK has also updated its Russia Guidance to reflect the changes…
The UK Government has introduced new economic, trade and transport sanctions on Belarus, extending existing Russia sanctions measures to Belarus in certain areas. These are included in The Republic of Belarus (Sanctions) (EU Exit) (Amendment) Regulations 2022 and entered into force on 5 July. The main changes introduced by the relevant legislation include: Expanded powers for designation, including: Addition of power to designate persons by description Expansion of criteria for designation to include: conduct destabilising…
What are the main changes: For breaches of financial sanctions that are committed after 15 June 2022, OFSI will be able to impose civil monetary penalties on a strict civil liability basis. This means that going forward OFSI will not have to prove that a person had knowledge or reasonable cause to suspect that they were in breach of financial sanctions. OFSI will continue to have the burden of proving that the financial sanctions breach…
The UK announced on 21 April 2022 that it will introduce import bans on silver, wood products and other high-end products from Russia including caviar. The UK also announced that it will increase tariffs by 35 percentage points on certain products from Russia and Belarus. The products which will face the additional 35 percent tariff (on top of any tariffs that are currently applicable) range from arms and ammunition, pharmaceutical products, rubber, textiles to luxury…