NTE 2024/07: Russian sanctions
Published 1 May 2024
漏 Crown copyright 2024
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Introduction
Non-compliance with sanctions legislation is a serious offence. Those who breach sanctions may be subject to a range of enforcement actions, including large financial penalties or referral for criminal prosecution. Exporters should follow licensing requirements as laid out in聽Russia sanctions: guidance.
UK-Russia trade sanctions
皇冠体育app UK has:
- significantly expanded and deepened its sanctions capability
- reinforced cross-government co-ordination
- increased investment in sanctions implementation and enforcement
皇冠体育app government works with UK businesses to ensure that sanctions are enforced.聽 皇冠体育appre is an increase in the number of voluntary disclosures to HMRC about sanctions breaches.
Over 拢20 billion of UK-Russia bilateral trade (2021 figures) is now under full or partial sanction. 皇冠体育appre is a:
- 94% fall in Russian imports into the UK聽
- 74% fall in UK exports to Russia
Goods and technology sanctions
皇冠体育app UK has comprehensive good and technology export sanctions in place, including: 聽
- military
- critical industry
- dual-use
- aviation and space
- defence and security
- oil refining
- quantum computing and advanced materials
- goods used for Russia鈥檚 energy sector
- jet fuel and fuel additives
- luxury goods
- and other products which Russia depends on the UK and G7 partners for
罢丑别听Common High Priority Items (CHP) list聽lists items critical to Russian weapons systems and its military development that are subject to UK sanctions.
Economic deterrence initiative
皇冠体育app government has committed 拢50 million to support a new Economic Deterrence Initiative to further boost our diplomatic and economic tools and improve sanctions implementation and enforcement and to tackle sanctions evasion across the UK鈥檚 trade, transport and financial sectors.
Deter, disrupt and demonstrate 鈥� UK sanctions in a contested world: UK sanctions strategy聽published in February 2024 sets out the UK Government鈥檚 approach to use sanctions to:
- address global threat
- promote international norms
- protect the UK
Enforcement of sanctions is a main element of the strategy.
Contact Export Control Joint Unit (ECJU)
Export Control Joint Unit
Department for Business and Trade
Old Admiralty Building
Admiralty Place
London
SW1A 2DY
贰尘补颈濒听[email protected]
Telephone 020 7215 4594
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