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
Continue Reading OFSI Fines UK Company for Financial Sanctions Breach
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
Continue Reading Update: UK Bans Exports of UK Professional Services to Russia and Includes Evraz plc on the UK Sanctions List
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
Continue Reading UK Russian Sanctions and Economic Crime Update – A More Forceful Approach
Despite the rhetoric, it is clear that the United Kingdom has not, in fact, been leading the way on sanctions against Russia in response to
Continue Reading UK Russian Sanctions: Is the UK Doing Enough?
As anticipated in our previous GT Alert, the UK government is bringing forward its economic crime legislation in response to Russia’s invasion of Ukraine.
Continue Reading UK Introduces Economic Crime Legislation in Wake of Russian Invasion of Ukraine
The invasion of Ukraine by Russian forces was much heralded by U.S. and UK intelligence services but the scale of the attack seemed to take
Continue Reading What Steps Other than Sanctions Might the UK Government Take Against Russian Assets in the UK?
On Feb. 24, 2022, Prime Minister Boris Johnson announced a comprehensive package of sanctions targeting Russian entities and individuals following President Vladimir Putin’s invasion of
Continue Reading UK Issues Sanctions Against Russia Following President Putin’s Attack on Ukraine
Ursula von der Leyen, the new president of the European Commission, has called for ‘new proposals to ensure Europe is more resilient to extraterritorial sanctions
Continue Reading EU Sanctions: European Commission President Pushes for Greater Resilience, Proper Enforcement