UK government introduces additional trade sanctions against Russia
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Insight Article 27 June 2022 27 June 2022
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UK & Europe
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Geopolitical outlook
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Commercial Disputes
On 22 June 2022, the UK government introduced additional trade sanctions on Russia.
The new measures introduce prohibitions on the export, supply and delivery, making available and transfer (as well as related technical assistance, financial services, funds and brokering services) of:
- internal repression goods and technology
- goods and technology relating to chemical and biological weapons
- maritime goods and technology
- additional oil refining goods and technology
- additional critical industry goods and technology
Key aspects of the measures include:
Jet fuel and fuel additives
The UK is prohibiting the export and supply of jet fuel and fuel additives to, or for use in Russia.
Sterling or EU denominated banknotes
The UK is prohibiting the export of Sterling or EU denominated banknotes. Additionally, the UK is prohibiting the supply or delivery of such banknotes to a person connected with Russia.
Revenue generating goods
The UK is prohibiting the import, acquisition or supply and delivery of revenue generating goods that are consigned or originate from Russia.
Iron and steel imports
The UK is placing prohibitions on the provision of technical assistance, financial services, funds and brokering services relating to iron and steel imports.
The notice can be found here: NTE 2022/18: introduction of additional sanctions against Russia - GOV.UK (www.gov.uk)
The full details of the new measures can be found here: The Russia (Sanctions) (EU Exit) (Amendment) (No. 10) Regulations 2022 (legislation.gov.uk)
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