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
- UK Government extends expiration of Sakhalin-2 exemption under Oil Price Cap: On June 28, 2024, OFSI updated the Oil Price Cap Exempt Projects and Countries General Licence (INT/2022/2470156) to extend the expiration of the Sakhalin-2 exemption for the supply or delivery of Russia oil to Japan to 28 June 2025. (INT-2022-2470156_-_Exempt_Projects_and_Countries_GL__28_June_2024_.pdf (publishing.service.gov.uk))
- UK Government issues General Licence authorising certain payments to Statutory Auditors: On June 27, 2024, OFSI issued General Licence INT/2024/4888228, which authorises UK designated persons, or persons acting on their behalf, to make certain payments to statutory auditors following their appointment as statutory auditors of a company, subject to certain conditions. (INT.2024.4888228_GL_.pdf (publishing.service.gov.uk))
- UK Government amends three entries on the UK sanctions list under the Russia regime: On June 26, 2024, the UK Government amended the entries for Pavel Barchugov, Konstantin Denisov and Fractal Marine DMCC on the UK sanctions list under the Russia regime. These parties remain subject to an asset freeze and trust services sanctions. (https://assets.publishing.service.gov.uk/media/667c1cbd97ea0c79abfe4caf/Notice_Russia_260624.pdf)
- UK Government removes one individual from the UK sanctions list under the Russia regime: On June 25, 2024, the UK Government removed Aleksei Nikolaevich Filippovskii from the UK sanctions list. (https://assets.publishing.service.gov.uk/media/667abd887d26b2be17a4b2e6/Notice_Russia_250624.pdf)
2. SYRIA SANCTIONS
- UK Government extends humanitarian general licence under the Syria regime: On June 26, 2024, the UK Government extended General Licence INT/2023/2711256, which authorises activities necessary to facilitate humanitarian assistance activities in relation to earthquake relief efforts in Syria and Turkey, to 14 February 2025. (https://assets.publishing.service.gov.uk/media/667bca1d97ea0c79abfe4c45/Syria_Humanitarian_GL_INT-2023-2711256_.pdf)
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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.