Context
OFSI has published updated guidance for the Russia (Sanctions) (EU Exit) Regulations 2019 relating to financial and investment restrictions.
Key points to note
- The Russia (Sanctions) (EU Exit) Regulations 2019 ensure sanctions relating to Russia are implemented effectively after the UK leaves the EU.
- This should be considered supplementary to, and not a replacement for, OFSI’s general guidance document.
- This sanctions regime is aimed at encouraging Russia to cease actions which destabilise Ukraine, including actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.
- There are also sectoral financial sanctions which prohibit and restrict specified activities. These include restrictions on dealing with transferable securities or money-market instruments and granting or entering into arrangements to grant loans or credit. These are specific to the Russia regime.
- The updated guidance can be found here.
Next actions
Provided for information.