UK: ADDITIONAL REGULATIONS FURTHER RUSSIA SANCTIONS

The Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2022 add new financial sanctions to the Russia (Sanctions) (EU Exit) Regulations 2019. The amendments insert a restriction on the provision of financial services for the purposes of foreign exchange reserve and asset management involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, the Ministry of Finance of the Russian Federation, or persons owned or controlled by, or acting on behalf of, or at the direction of, the same. 

https://www.legislation.gov.uk/uksi/2022/205/contents/made 

https://www.legislation.gov.uk/uksi/2022/205/pdfs/uksiem_20220205_en.pdf

 

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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