Russia (EU Exit) Regulations 2019 amended
The Russia (Sanctions) (EU Exit) Regulations 2019 under the Sanctions and Anti-Money Laundering Act 2018 have been amended.
The Regulations enter into force at the end of the transition period and replace the EU sanctions regime relating to Russia’s actions in the Ukraine.
OFSI has updated its accompanying guidance for the Russia financial sanctions regime in line with this amendment. This guidance does not currently apply and will only come into effect at 11pm on 31 December 2020, or when the Russia (Sanctions) (EU Exit) Regulations 2019 come into force. This is therefore for information only at this stage.