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UK prohibits legal services for certain transactions
On 30 June 2023, amendments to The Russia (Sanctions) (EU Exit) Regulations 2019 entered into force. The amendments to the Regulations prohibit UK Persons who are UK lawyers from providing legal advisory services to clients who are not UK Persons (ie, not only Russian clients), and in respect of certain financial or trade activities prohibited by UK sanctions.
EU extends ban on selling securities to Russian persons
On 23 June 2023, regulations formalising the European Union’s “Eleventh Package” of restrictive measures were published and entered into force.
Summary of the 11th package of EU restrictive measures
On 23 June 2023, legal acts formalising the “Eleventh Package” of European Union restrictive measures were published and entered into force.
EU expands criteria for listing Russian businesspersons and their close associates
On 5 June 2023, the Council of the European Union amended the criteria for imposing blocking sanctions on Russian persons. The Amendment applies to businesspersons operating in Russia and their associates.
EU imposes sanctions in anticipation of “eleventh package” taking into account the new restrictive measures regime concerning Moldova
On 30 May 2023, the Council of the European Union updated its list of persons subject to blocking sanctions.
OFSI Publishes its General Licence – Prior Obligations
On 22 May 2023, the UK Office of Financial Sanctions Implementation issued a General Licence INT/2023/2954852 covering payments under prior obligations.