UK OFSI Russia and Belarus Sanctions

On Feb. 22, UK OFSI sanctioned 52 individuals/entities under regimes.

  • UK OFSI added two new designations under the Belarus sanctions regime and 50 new designations under Russia sanctions regime plus three variations under Russia regime.
  • These new sanctions mark two years since Russia's illegal invasion of Ukraine.
  • Belarus Regime
  • JSC Planar and Precise Electro-Mechanics Plant added to the consolidation list.
  • For enabling or facilitating the disappearance of Yury Zakharanka, Viktar Hanchar, Anatol Krasouski or Dzmitry Zavadski, or failure to investigate properly or institute criminal proceedings against the persons responsible for those disappearances.
  • Following publication of UK sanctions list, info on consolidated list has been updated.
  • Russia Regime
  • 50 entries added to consolidated list, subject to asset freeze, trust services sanctions.
  • Three entries amended for Andrey Andreevich Guryev, Andrey Grigoryevich Guryev and Sergei Sergeivich Ivanov, subject to an asset freeze and trust services sanctions.
  • Following publication of UK sanctions list, info on consolidated list has been updated.
  • Feb. 22, 2024 Two Years On
  • On Feb. 22, 2024, UK GVT said new sanctions signify 2 years post Russia's Ukraine invasion and demonstrates UK’s unwavering support for Ukraine for as long as it takes.
  • Sanctions crack down on those supplying rocket launch systems, missiles, explosives.
  • New sanctions target key sources of Russian revenue, clamping down on metals, diamonds, energy trade; cutting off funding for Putin’s illegal war from every angle.
  • The UK also launched its first sanctions strategy, which sets out how the UK's sanctions regimes are tackling malign activity and making a difference, see #202110.

Regulators UK GVT; UK OFSI; UK Treasury
Entity Types B/D; Bank; BS; Ins; Inv Co; MSB
Reference List, Nt, PR, 2/22/2024; StIn 2019/855; StIn 2019/600; SAMLA 2018 (UK)
Functions AML; Anti-Bribery; Compliance; Financial; Human Rights; Legal; Operations; Reporting; Sanctions
Countries Belarus; Russia; United Kingdom; Ukraine; Cross-Border
Category AML FIU; Central Government
Products Banking; Clearing; Commodities; Deposits; Fund Mgt; Insurance; Loan
Regions EMEA
Rule Type Final
Rule Date 2/22/2024
Effective Date 2/22/2024
Rule Id 202052
Linked to Rule :202110
Reg. Last Update 2/22/2024
Report Section AML & Enforcement

Last substantive update on 02/27/2024