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5 January 2024

UK Weekly Sanctions Update - Week Of December 18, 2023

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In this weekly update, we summarise the most notable updates in the UK sanctions world. If you have any questions in respect of any...
United Kingdom International Law

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

2. Other sanctions

  • OFSI updates financial sanctions guidance:  On December 21, 2023, OFSI updated its guidance on financial sanctions, monetary penalties and enforcement and Russia sanctions. The latest version of OFSI's guidance is available at:  https://www.gov.uk/government/publications/financial-sanctions-faqs.
  • OFSI updates guidance on reporting information to OFSI:  On December 21, 2023, OFSI updated its guidance on reporting information to OFSI. The updates included adding a new DP Reporting Template (for UK and non-UK Persons respectively) and an Immobilised Assets Reporting Document. The guidance also explains to whom and how the relevant documents apply ( https://www.gov.uk/guidance/suspected-breach-of-financial-sanctions-what-to-do).
  • OFSI updates UK Israel & Occupied Territories general licence: On December 20, 2023, OFSI update General Licence: Israel And The Occupied Palestinian Territories Humanitarian Activity INT/2023/3749168 to (i) add the Disasters Emergency Committee as a Relevant Person; (ii) amend the definition of a UK Funded Person; and (iii) provide clarity on reporting requirements and the geographical extent of the General Licence. ( Gaza_Humanitarian_General_Licence_INT-2023-3749168_GL.pdf (publishing.service.gov.uk)).

Originally Published 25 December 2023

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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.

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