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Prohibition does not apply to satisfaction of an obligation of person arising under a contract concluded before 19 July, or an ancillary contract necessary for the satisfaction of such a contract, provided that person has notified the Treasury no later than the day five working days before the day on which the act is carried out.
Prohibitions are not contravened by a person dealing, directly or indirectly, with (a) a transferable security where such dealing is prohibited by regulation 16; (b) a relevant security issued by a person connected with Russia; (c) a relevant security issued by a relevant entity.
Prohibitions do not apply to anything done under the authority of a licence issued by the Treasury for an extraordinary situation, humanitarian assistance activity, the provision of medical goods or services for the benefit of the civilian population of a country, the import, export or use of medical goods, the production or distribution of food for the benefit of the civilian population of a country, the carrying out the function of a diplomatic mission or consular post in Russia, or of an international organisation enjoying immunities in accordance with international law, the carrying out the function of a diplomatic mission or consular post of Russia in the UK, the promotion of the safety and soundness of a firm which is supervised by the Bank of England, the Prudential Regulation Authority or the Financial Conduct Authority, spaceflight activity.
“Dealing with” a relevant security issued by a person connected with Russia or by a relevant entity includes a reference to purchasing or selling the security, providing investment services relating to the security or assisting in the issuance of the security;
“relevant entity” shall have the same meaning as it has in regulation 18B (investments in relation to Russia);
“relevant security issued by a person connected with Russia” means a security issued by – (a) a person connected with Russia; (b) a person, other than an individual, which is owned by a person falling within sub-paragraph (a); or (c) a person, other than an individual, acting on behalf or at the direction of a person within sub-paragraph (a) or sub-paragraph (b); which – (d) is negotiable on the capital market; (e) is of any of the following kinds, but excluding instruments of payment – (i) shares in companies and other securities equivalent to shares in companies, partnerships or other entities, and depositary receipts in respect of shares; (ii) bonds or other forms of securitised debt, including depositary receipts in respect of such securities; (iii) any other securities giving the right to purchase or sell any security of a kind mentioned in paragraph (i) or (ii) ; and (f) was admitted to trading on a regulated market or multilateral trading facility prior to the coming into force of the Amendment (No. 12) Regulations;
“relevant security issued by a relevant entity” means a security issued by a relevant entity, negotiable on the capital market, of any of the following kinds, but excluding instruments of payment—(a) shares in companies and other securities equivalent to shares in companies, partnerships or other entities, and depositary receipts in respect of shares; (b) bonds or other forms of securitised debt, including depositary receipts in respect of such securities; (c) any other securities giving the right to purchase or sell any security of a kind mentioned in paragraph (a) or (b) .
“transferable security” has the same meaning as it has in regulation 16 (dealing with transferable securities or money-market instruments).
Prohibitions do not apply to (a) the personal effects of a person travelling to Russia, (b) of a non-commercial nature for the personal use of a person travelling to Russia and contained in that person’s luggage, or (c) necessary for the official purposes of a diplomatic mission or consular post in Russia, or of an international organisation enjoying immunities in accordance with international law.
Prohibitions do not apply to (a) consumer communication devices for civilian use, or (b) software updates for civilian use.