October 3, 2022

OFSI announces additional sanctions in response to Russia’s illegal annexation of Ukrainian territories

On September 30, 2022, the UK announced that it intends to impose additional sanctions upon Russia.   The new measures will ban Russia’s access to variety to professional services in the UK, including IT consultancy services, architectural services, engineering services, advertising services, transactional legal advisory services and auditing services.  Further guidance is expected shortly. The UK also banned the export of almost 700 goods from UK to Russia, including goods that are crucial to Russia’s industrial and technological sectors. 

In addition, the UK sanctioned Elvira Nabiullina, the Governor of the Central Bank of the Russian Federation, for being instrumental in steering the Russian economy through the Russian regime’s illegal war against Ukraine and extending the ruble into temporarily-controlled Ukrainian territories. Nabiullina was sanctioned under the Russia (Sanctions) (EU Exit) Regulations 2019 for obtaining a benefit from or providing support to the Government of Russia, and, as a result, will be subject to an asset freeze and travel ban.

Foreign Secretary James Cleverly also urged the Russian Ambassador, Andrey Kelin, to strongly protest the illegal annexation of sovereign Ukrainian territory.

UK government press release | OFSI Financial Sanctions Notice – Russia