New measures

The Russia (Sanctions) (EU Exit) (Amendment) (No. 14) Regulations 2022 introduces further sanctions on Russia. These include:

Prohibitions on the export and making available of items listed on the G7 Dependency and Further Goods List to, or for use in, Russia, in addition to prohibitions on the supply or delivery of such items from a third country to a place in Russia (as well as prohibitions on the provision of related technical assistance, financial services, funds, and brokering services).

Expanded prohibitions on the export, making available, and supply or delivery of energy-related goods (as well as prohibitions on the provision of related technical assistance, financial services, funds, and brokering services).

Prohibitions on the import, acquisition and supply or delivery of:

• oil and oil products (note these provisions come into force on 31 December 2022)

• coal and coal products (note these provisions come into force on 10 August 2022)

that originate in or are consigned from Russia (as well as prohibitions on the provision of related technical assistance, financial services, funds, and brokering services).

Prohibitions on the import, acquisition and supply or delivery of gold originating in Russia (as well as prohibitions on the provision of related technical assistance, financial services, funds, and brokering services).

Prohibitions on the provision of Professional and Business Services directly or indirectly to a person connected with Russia.

Exceptions

There are some exceptionsto the prohibitions see regs. 16 - 21 of the 2022 regulations. These include personal effects, aircrafts and vessels and emergencies. Licences can be granted in very limited circumstances, should you require asisstance in navigating the regulations then you may contact Hamamd Baig. 

The new sanctions are in addition to the previously imposed sanctions which saw:

• Russian ships banned from UK ports

• further UK individuals and entities restricted from undertaking financial transactions with the Russian Central Bank

• Russia’s state-owned sovereign wealth fund and its chief executive being sanctioned

Hammad was called to the bar in 2010. He is a full member of the Institute of Export and International Trade (IOE&IT). He is a tax barrister and advises on all aspects of Indirect Tax Law and is experienced at in-depth analysis of complex provisions in disputes with Her Majesty's Revenue and Customs.

Hammad is listed as an expert by Tolley (Tax Intelligence by LexisNexis).

Further articles on topics relating to Hammad's practice areas, can be read under his Insights, and on Hammad’s blog. Should you wish to instruct Hammad, then please do not hesitate to contact his clerk Mark Byrne.