UK sanctions Russian defense actors, imposes additional import sanctions and issues new general license

On April 21, 2022, the UK Foreign Secretary Liz Truss announced new Russia-related sanctions that target military leaders in Russia in response to recent attacks in Donetsk and Luhansk and intelligence reports that reveal the intentional bombing of critical and civilian infrastructure in Mariupol, including civil government buildings, hospitals, schools and transportation hubs. Truss announced 26 new sanctions targeting key leaders in the Russian army who are directing troops to commit these heinous acts and non-military individuals who are actively supporting the Ukraine invasion, imposing travel bans and/or asset freezes upon the newly-listed individuals.  In addition, sanctions related to 19 additional individuals and entities with links to Russian military and defense groups are being fast-tracked (in cooperation with global partners from the G7 and EU) in an effort to hamper future military endeavors by Russian President Vladimir Putin.  

The UK also announced additional trade sanctions that expand the number Russian products subject to import bans and increased tariffs - sanctions that will now effect more than £1 billion in Russian goods. Tariffs will increase by 35 percentage points on approximately £130 million in products from Russia and Belarus such as diamonds and rubber, while the UK will ban wood products, silver, and certain high-end products from Russia such as caviar.

On the same day, the Office of Financial Sanctions Implementation issued General License INT/2022/1630477 under regulation 64 of the Russia (Sanctions) (EU Exit ) Regulations 2019 to temporarily authorize payments to Gazprombank or a Subsidiary, for the purpose of making Gas available in the EU.  The general license allows payments under contracts entered into prior to April 21, 2022,  the date of the general license.  In addition, a Person, Relevant Institution or Gazprombank or a Subsidiary is permitted to carry out any activity reasonably necessary to effect this.  This general license expires on May 31, 2022.  Anyone utilizing this license is required to keep accurate records of these transactions for a minimum of 6 years.

UK Government Press Release I | UK Government Press Release II | General License INT/2022/1630477

 
You are currently offline.