UK Weekly Sanctions Update - Week of May 27, 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

• OFSI amends General Licence relating to VTB and Sberbank: On May 31, 2024, OFSI amended General Licence INT/2022/1280876, which authorises certain payments relating to the basic needs and insolvency proceedings relating to, among others, VTB Capital plc, Sberbank CIB (UK) Ltd and any entity owned or controlled by either of them, subject to certain conditions.  The amendments to the General Licence permit a scheme of arrangement prepared by the Joint Administrators of VTB Capital plc. (INT.2022.1280876_PN.pdf (publishing.service.gov.uk))
• UK Government amends one entry on the UK sanctions list under the Russia regime: On May 31, 2024, the UK Government updated the entry for Dmitry Vladimirovich Konov under the Russia sanctions regime. This individual remains subject to an asset freeze and trust services sanctions. (https://assets.publishing.service.gov.uk/media/6659a02adc15efdddf1a85ee/Notice_Russia_310524.pdf)
• UK Government amends one entry on the UK sanctions list under the Russia regime: On May 30, 2024, the UK Government made a correction to the entry for Tatiana Vladimirovna Evtushenkova under the Russia sanctions regime. This individual remains subject to an asset freeze and trust services sanctions. (Notice_Russia_300524.pdf (publishing.service.gov.uk))
• UK Government issues General Licence for “personal remittances” allowing a person to make use of the retail banking services of a designated Credit or Financial Institution under certain conditions: On May 28, OFSI reissued General Licence INT/2024/4761108 under the Russia regime which allows a Person to make use of the retail banking services of a designated Credit or Financial Institution provided that the payments made or received are intended for their personal use, subject to certain conditions. (INT.2024.4761108_GL.pdf (publishing.service.gov.uk))
• UK Government expands designation criteria under the Russia regime: On May 28, 2024, The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2024 came into force.  The amendment expanded the designation criteria in Regulation 6, including to permit the designation of people or entities which who own or control entities which fall within the designation criteria under Regulation 6(3)(a)-(g) or who provide financial support to entities which fall within the designation criteria under Regulation 6(4)(a)-(e). The amendment also expended the criteria for designating ships under Regulation 57F.  (The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2024 (legislation.gov.uk))

2. Somalia Sanctions

• UK Government amends three entries on the UK sanctions list under the Somalia regime: On May 30, 2024, the UK Government made corrections to the entries on the UK sanctions list for Abdikadir Mohamed Abdikadir, Mohamed Mohamud Mire and Mohamed Omar Mohamed.  These individuals remain subject to an asset freeze and trust services sanctions. (Notice_Somalia_300524.pdf (publishing.service.gov.uk))