The UK Government announced, on 31 January 2022, a planned expansion of the UK’s sanctions regime against Russia in relation to developments concerning Ukraine.
Whilst the UK Foreign Secretary noted, in a statement to the House of Commons, that the new measures will amount to “wide ranging sanctions in broad categories“, limited detail has been published, so far, on the scope of the proposed changes. The new sanctions will be introduced as part of new legislation due to be implemented by 10 February 2022.
An additional press release published by the UK Government (see here), noted that the new measures will not designate or impose sanctions on any individuals or businesses automatically, but will provide the additional powers for the UK to do so in the event of any “further Russian incursion into Ukraine“. We will provide a further update on this blog once such measures have been introduced.
Author
Sunwinder Mann
Sunny Mann is a Partner in Baker McKenzie's London office and co-leads the UK Compliance and Investigations Practice, as well as the UK International Commercial and Trade Practice. Both these practices are ranked Tier 1 by Legal 500 UK. He has also worked in our Firm's Washington DC, New York and Sydney offices. Sunny also advises many clients on risk matters in India. He advises clients (including numerous FTSE 100 and Fortune 100 businesses) on compliance and investigations with respect to export controls, trade sanctions and anti-bribery rules. The Legal 500 ranked Sunny as a “Leading Practitioner", and as "excellent", with a ‘calm’ and "very practical" approach. The India Business Law Journal also noted that Sunny is "excellent and has deep experience in India". He is a Visiting Professor at the College of Europe, the leading institute for post-graduate European studies, where he teaches a course on Corporate Compliance.
