Financial Crime World

UK Implements Latest Round of Financial Sanctions Against Russia, Central African Republic, and Others

The United Kingdom has updated its list of individuals and entities subject to financial sanctions in response to ongoing conflicts and threats around the world.

New Targets Added to Consolidated List

According to a statement released by HM Treasury, the latest updates include additions related to the regimes in:

  • Russia
  • Central African Republic
  • Myanmar
  • Democratic People’s Republic of Korea
  • Somalia
  • Democratic Republic of Congo
  • Others

The UK’s Consolidated List of Financial Sanctions Targets is divided by country, with separate sections for:

Terrorist Financing and Al-Qaida

Additionally, the list includes individual regime-specific lists, such as those related to:

  • Afghanistan
  • Syria

Staying Up-to-Date on Latest Developments

To stay informed about changes to the Consolidated List, individuals and businesses are encouraged to subscribe to HM Treasury’s free email notification service.

Financial Sanctions Guidance

The UK’s Financial Sanctions Guidance is produced by the Financial Sanctions Implementation Unit (FSIU), a unit of the Ministry of Legal Affairs Headquarters. The guidance sets out the FSIU’s approach to common questions and takes into account the range of sanctions in place at any given time.

Important Notes for Individuals and Businesses

Individuals and businesses are advised to:

  • Review up-to-date legislation that applies to their particular circumstances
  • Consider taking independent legal advice if unsure of their obligations

International Sanctions Updates

The UK has also provided updates on its international sanctions regime, which targets individuals and entities involved in:

  • Terrorism
  • Proliferation financing
  • Other malicious activities

Recent updates include:

Financial Sanctions Updates

  • Russia Regime (26 June 2024)
  • Central African Republic Regime (13 June 2024)
  • Myanmar Regime (13 June 2024)
  • Democratic People’s Republic of Korea Regime (17 May 2024)

For more information on the UK’s financial sanctions regime, including the Consolidated List and guidance documents, please visit HM Treasury website.