Russian sanctions evasion – key indicators for regulated firms

Our previous blogpost mentioned the recent red alert on sanctions evasion typologies issued by various law enforcement and financial sector partners. In this post we look at this update in more detail to identify potential indicators of sanctions evasion, and the steps that the alert indicates that financial sector and other anti-money laundering ("AML") regulated firms should be taking in this regard. Read more

Sanctions tracker: further UK and EU sanctions measures introduced

New Russian sanctions measures have continued to be introduced in the last few days. In this update, we summarise the UK’s new sanctions legislation in relation to Russian gold, coal and oil and the provision of services (among other things), as well as the EU’s new “maintenance and alignment” sanctions package. UK  New UK legislation … Read more

Sanctions tracker – new UK trade sanctions

This briefing summarises the new Russia sanctions measures introduced by the UK on 23 June 2022 and provides a round-up of other key UK and EU developments since our last sanctions tracker post. Read more

Strict liability test for sanctions breaches come into force

Changes to the UK's financial sanctions regime, introduced by the Economic Crime (Transparency and Enforcement) Act 2022 (the "Act"), came into force today (15 June 2022) and, with them, the power for the Office of Financial Sanctions Implementation ("OFSI") to impose civil monetary penalties in respect of financial sanctions breaches on a strict liability basis (i.e. irrespective of any knowledge or suspicion). Read more

The impact of the war in Ukraine on Trade Policy

The war in Ukraine will change the world in many ways. One change that deserves more attention is how it is impacting trade policy and thus changing trade flows and creating trade opportunities. The evolving content of Western sanctions is tracked on our Sanctions Notes pages. In this note we will look at the legal … Read more