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.above.

1. Russia Sanctions

  • OFSI amends general licence relating to Oil Price Cap: On February 9, 2024, OFSI added an expiration date of 18 February 2024 to General Licence INT/2022/2469656. This General Licence authorises certain activities relating to the maritime transportation of certain oil and oil products to and between third countries as well as related financial and brokering services subject to certain conditions. (General_Licence_-_Oil_Price_Cap_INT_2022_2469656_-_9_February_2024.pdf (
  • OFSI amends general licence for payments to UK insurance companies: On February 6, 2024, OFSI amended General licence – INT/2022/2009156, which allows UK designated persons (DPs) and persons acting on their behalf to make certain payments to UK insurers, subject to certain conditions. UK insurers are also authorised to receive such payments and to make return payments or refunds in specified circumstances. (General_Licence_INT-2022-2009156.pdf (
  • UK Government amends one entry on the sanctions list under the Russia Regime: On February 6, 2024, the UK Government made a variation to the entry for Oleg Alexandrovich Mashtalyar under the Russia sanctions regime. This individual remains subject to an asset freeze, trust services sanctions, and travel ban. (notice_russia_060224.pdf (
  • UK prosecutors charge former Russian mayor with sanctions circumvention: On February 6, 2024, Dmitry Ovsyannikov, a UK sanctions target and former mayor of Sevastopol, was arrested by the National Crime Agency and charged on suspicion of sanctions circumvention. Mr Ovsyannikov is the first person to be charged in the UK for breaching Russia sanctions and will appear before Southwark Crown Court on 20 February 2024. (Putin ally arrested in London on charge of breaching Russian sanctions | Evening Standard).
  • UK Court of Appeal grants anti-suit injunction preventing Russian proceedings in sanctions case: On February 2, 2024, the Court of Appeal allowed an appeal by UniCredit and granted an anti-suit injunction against proceedings brought by RusChemAlliance LLC ("RCA") in Russia against UniCredit. The underlying dispute relates to non-payment by UniCredit under bonds issued to RCA on account of EU sanctions against Russia. The Court held that it had jurisdiction and granted a final anti-suit injunction finding that RCA was in breach of its agreement that such disputes should be decided by ICC arbitration in Paris. (Unicredit Bank GmbH v Ruschemalliance LLC [2024] EWCA Civ 64 (02 February 2024) (
  • UK House of Lords European Affairs Committee publishes Russia-Ukraine report: On January 31, 2024, the UK House of Lords European Affairs Committee published a report titled "The Ukraine Effect: The impact of Russia's invasion of Ukraine on the UK–EU relationship". The report builds on the committee's recommendations on UK-EU foreign and security policy cooperation made in its April 2023 report "The future UK-EU relationship" and focuses on (i) cooperation on sanctions; (ii) the UK-EU defence relationship; (iii) reconstruction of Ukraine; and (iv) the long-term implications for the UK-EU foreign and security relationship. (The Ukraine Effect: The impact of Russia's invasion of Ukraine on the UK–EU relationship (
  • UK court rules that disclosure of documents to 3rd party does not breach sanctions: On January 29, 2024, Butcher J in the High Court, in Aercap Ireland Limited v AIG and others, held that the disclosure of reinsurance documents from the reinsurance broker (a 3rd party in the litigation relating to aircraft and engines) did not amount to the provision of financial services, brokering services or insurance/reinsurance services with the relevant regulations and, accordingly, was not prohibited under UK sanctions. (AerCap Ireland Ltd v AIG Europe SA & Ors [2024] EWHC 144 (Comm) (29 January 2024) (

2. Iran Sanctions

  • British citizen sentenced in the US for attempting to export US technology to Iran: On February 1, 2024, Saber Fakih, a UK national, was sentenced to 18 months in prison for violations of the International Emergency Economic Powers Act (IEEPA) and Iranian Transactions and Sanctions Regulations. According to his plea agreement, Saber Fakih conspired with a Canadian, a UAE, and an Iranian individual to export and attempt to export an Industrial Microwave System (IMS) and counter-drone system from the US to Iran, without first obtaining the requisite OFAC licence. (District of Columbia | U.K. Citizen Sentenced to Prison for Attempting to Export U.S. Technology to Iran | United States Department of Justice).

3. Syria Sanctions

Originally published on 12 February 2024

Visit us at

Mayer Brown is a global services provider comprising associated legal practices that are separate entities, including Mayer Brown LLP (Illinois, USA), Mayer Brown International LLP (England & Wales), Mayer Brown (a Hong Kong partnership) and Tauil & Chequer Advogados (a Brazilian law partnership) and non-legal service providers, which provide consultancy services (collectively, the "Mayer Brown Practices"). The Mayer Brown Practices are established in various jurisdictions and may be a legal person or a partnership. PK Wong & Nair LLC ("PKWN") is the constituent Singapore law practice of our licensed joint law venture in Singapore, Mayer Brown PK Wong & Nair Pte. Ltd. Details of the individual Mayer Brown Practices and PKWN can be found in the Legal Notices section of our website. "Mayer Brown" and the Mayer Brown logo are the trademarks of Mayer Brown.

© Copyright 2024. The Mayer Brown Practices. All rights reserved.

This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.