Sanctions database

Government of the United Kingdom (UK) closed the Tier 1 Investor visa route to all new applications. The visa route allowed applicants to invest funds in share capital or loan capital in active and trading UK-registered companies. The route was closed due to security concerns and abuses against the immigration system. In other words, the UK imposed "golden visa" ban for Russians. Link to the original

On 1 June, the UK introduced additional duties of 35 % to a further package of goods originating in Russia and Belarus, including diamonds and rubber (around £130m worth of products). Link to the original

The UK and EU have reached an agreement to enact a co-ordinated ban on insuring ships carrying Russian oil, shutting Moscow out of the vital Lloyd’s of London insurance market and sharply curbing its ability to export crude oil. Link to the original

Extension of existing restrictions on dealing with financial instruments and providing loans to a broader range of transferable securities, money market instruments, loans and credit (in particular applied the prohibitions to securities or money-market instruments issued by a wide range of persons connected with Belarus and related entities thus effectively capturing all Belarusian entities beyond just state-owned entities, but with a carve out for Belarusian entities majority owned by non-Belarusian entities; applied the prohibitions on providing loans and credit arrangements to a wide range of persons connected with Belarus and related entities and a wider range of loans to certain persons connected to the Government of Belarus. Link to the original

Prohibition on the provision of financial services for the purpose of foreign exchange reserve and asset management to the Central Bank of Belarus and the Ministry of Finance of Belarus and related entities. Link to the original

Amendment applies existing measures on ‘Restricted Goods’ and ‘Restricted Technology’ to oil refining goods and technology (specified in Schedule 2D), prohibiting the export, supply and delivery, making available and transfer of such items to, or for use in, Russia. This includes the provision of related technical assistance, financial services, funds and brokering services. Link to the original

Prohibited the import, acquisition, supply and delivery, directly or indirectly, of certain iron and steel products originating in Russia or consigned from Russia. The prohibitions cover the import of such goods into the UK, the acquisition of such goods, or the supply or delivery of such goods from a place in Russian to a third country. The relevant products are listed in Schedule 3B of the Russia Regulations. The provision of related technical assistance, brokering services, financing or financial assistance are also prohibited. Link to the original

Prohibition on the provision to, or for the benefit of, a designated person of technical assistance relating to aircraft. Link to the original

Prohibition on the provision to, or for the benefit of, a designated person of technical assistance relating to ships. Link to the original

General Trade Licence authorises the direct or indirect provision of insurance and reinsurance services relating to aviation goods or aviation technology where insurance and reinsurance services are not being provided to a person connected with Russia. In the case of insurance services, authorization only applies where the Provider: (a) does not reinsure any of their obligations to provide those insurance services, or (b) reinsures any of their obligations to provide those insurance services and no such reinsurance cover has, as a matter of applicable law, been rendered unenforceable, suspended, frustrated or prohibited by any applicable sanctions. In the case of reinsurance (including retrocession) services, authorization only applies if the insurance obligations the Provider is reinsuring have not, as a matter of applicable law, been rendered unenforceable, suspended, frustrated or prohibited by any applicable sanctions. If the Provider is providing reinsurance services to a reinsurer, the reference to insurance obligations shall include the reinsurance obligations of reinsurer as well as the insurance obligations that reinsurer is reinsuring (and if there are more than two reinsurers above the Provider in a chain of reinsurance, shall also cover the reinsurance obligations of each such reinsurer). If the Provider is a reinsurer that has reinsured any of their obligations to provide those reinsurance services, authorization shall only apply if the reinsurance cover Provider has obtained has not, as a matter of applicable law, been rendered unenforceable, suspended, frustrated or prohibited by any applicable sanctions. Link to the original