März 11. 2024

UK Weekly Sanctions Update - Week of March 4, 2024


In this weekly update, we summarise the most notable updates in the UK sanctions world. If you have any questions in respect of any of the developments set out below, please do not hesitate to contact a member of our London Global and Government Trade team listed above.

1. Russia Sanctions

  • UK Government increases the deadline for providing certain information in relation to the Maritime Services Ban and Oil Price Cap Exception: On March 8, 2024, the UK Government increased the deadline for providing additional attestations or itemised ancillary costs from 28 days to 30 days.  The UK’s industry guidance on oil price cap, oil price cap general licence and related reporting forms have been updated to reflect this.. (Russian Oil Services ban - GOV.UK (www.gov.uk)).
  • UK Government revokes one entry on the UK sanctions list under the Russia Regime: On March 5, 2024, the UK Government revoked Igor Viktorovich Makarov entry on the UK sanctions list.  Mr Makarov is no longer subject to an asset freeze, travel ban, transport sanctions, or trust services sanctions. (Notice_Russia_050324.pdf (publishing.service.gov.uk)).

2. Iran Sanctions

  • UK Government publishes guidance for UK businesses on doing business in Iran: On March 4, 2024, the UK published guidance for UK businesses on doing business in Iran.  Among other things, the guide declares the UK government’s support of sanctions-compliant trade with Iran and lists the certain sectors where there are export opportunities for UK businesses in Iran (including agriculture, healthcare, food and drink).  (Doing business in Iran: trade and export guide - GOV.UK (www.gov.uk)).

3. Other Sanctions

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