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.