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The UK Government has today designated five Russian banks and three individuals in response to the Russian Government’s decision to recognise the independence of the parts of the Donetsk and Luhansk regions which are outside of Ukraine’s control.  

The designated banks are the following:

  • Bank Rossiya
  • Black Sea Bank for Development and Reconstruction
  • JSC Genbank
  • IS Bank
  • PJSC Promsvyazbank

The individuals designated are:

  • Gennady Timchenko
  • Boris Rotenberg
  • Igor Rotenberg

UK persons are prohibited from providing funds or economic resources to the benefit of these banks and individuals.  This includes transfers involving accounts held by non-sanctioned individuals at the designated banks.  Additionally, dealings with entities owned or controlled by the newly designated parties will generally be considered as restricted by the sanctions.

OFSI’s full notice imposing the designations can be found here.


Andrew joined Baker McKenzie's London office as a trainee in 2015 and qualified in 2017. His practice concentrates on compliance with EU/UK trade regulations, as well as anti-bribery and antitrust. Andrew previously was previously seconded to Baker McKenzie's European Competition Law Practice in Brussels.

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