The United Kingdom and United States announced in a joint statement on 17 October a new strategy to cooperate and collaborate further on economic sanctions
Continue Reading UK and U.S. Announce ‘Enhanced Partnership’ on Economic Sanctions Implementation, EnforcementBethany Histed
Bethany Histed focuses her practice on commercial litigation, civil fraud, and complex multi-jurisdictional disputes. She has worked on complex contentious cases of significant value involving allegations of fraud, conspiracy, breach of fiduciary and directors’ duties, breach of contract, claims under the Insolvency Act 1986, and unfair prejudice petitions under section 994 of the Companies Act 2006. Bethany also has experience of dealing with asset disclosure and preservation issues.
Incoming UK Sanctions on Professional Services
On 30 September the UK announced a series of significant additional sanctions in response to Russia’s illegal annexations in Ukraine following internationally condemned sham referendums.
Continue Reading Incoming UK Sanctions on Professional ServicesUK Law Enforcement Identify Common Sanctions Evasion Tactics and Use of UK-Based ‘Enablers’
On 12 July 2022, the UK’s Office of Financial Sanctions Implementation (OFSI) and various other UK government agencies issued a red alert, in conjunction…
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UK Prohibits Certain Investment in Russia
From 19 July 2022, it is a violation of UK financial sanctions for any person who knows or has reasonable cause to suspect that…
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REPO Task Force: The First 100 Days
On June 29, the Russian Elites, Proxies, and Oligarchs (REPO) Task Force published a statement on its work in blocking or freezing sanctioned Russian assets.
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OFSI Fines UK Company for Financial Sanctions Breach
The UK Office of Financial Sanctions Implementation (OFSI) announced on 28 June that it imposed a £15,000 penalty on UK company Tracerco Limited for breaching…
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New Era in UK Sanctions Enforcement: Introduction of Strict Liability Standard and OFSI Guidance Update
On 15 June 2022, the UK Office of Financial Sanctions Implementation (OFSI) implemented important changes to its enforcement powers and updated its “Monetary Penalty” guidance.
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Update: UK Bans Exports of UK Professional Services to Russia and Includes Evraz plc on the UK Sanctions List
On 4 May 2022, the UK government announced[1] a ban on UK persons or entities exporting certain professional services to Russia, prohibiting Russian businesses…
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UK Russian Sanctions – Updated Guidance on Ownership and Control
The UK Office of Financial Sanctions Implementation (OFSI) has updated its guidance on ownership and control. If a person or entity is on the UK…
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UK Russian Sanctions and Economic Crime Update – A More Forceful Approach
As anticipated, the Economic Crime Bill was passed and became the Economic Crime (Transparency and Enforcement) Act 2022 on 14 March 2022. Overseas entities, their…
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