UK Weekly Sanctions Update - Week of January 29, 2024

In this weekly update, we summarise the most notable updates in the UK sanctions world. If you have any questions in respect of any of the developments set out below, please do not hesitate to contact a member of our London Global and Government Trade team listed above.

1. Russia Sanctions

• UK Government issues enforcement alert on the Russian Oil Price Cap: On February 1, 2024, the UK Government, in a coordinated effort with G7+ nations, issued an enforcement alert to support governments and industry strengthen Russian Oil Price Cap (OPC) compliance, and crack down on evasion. The alert covers, inter alia, an overview of key OPC evasion methods, recommendations for identifying evasion methods and mitigating their risks and negative impacts, and information on how to report suspected OPC breaches. (OPC_Coalition_compliance_and_enforcement_alert_-_1_February_2024.pdf (publishing.service.gov.uk)).
• UK Government amends one entry on the UK sanctions list under the Russia regime: On January 31, 2024, the UK Government made a variation to the entry for Vladimir Aleksandrovich Dmitriev under the Russia sanctions regime. This individual remains subject to an asset freeze, travel ban, and trust services sanctions, and is now subject to transport sanctions. (Notice_Russia_310124.pdf (publishing.service.gov.uk)).
• UK updates Russia sanctions guidance to include reference to licencing grounds for Scheduled 3DA revenue generating goods: On January 30, 2024, the UK Government updated its Russia sanctions guidance to include licensing grounds relating to Schedule 3DA revenue generating goods, outlining when a licence may be granted for the provision of technical assistance, brokering services, financial services, or funds relating to goods falling under Schedule 3DA. (Russia sanctions: guidance - GOV.UK (www.gov.uk)).

2. Iran Sanctions

• UK Government adds 8 entries to the UK sanctions list under the Iran regime: On January 29, 2024, the UK Government, in a coordinated effort with the US, has sanctioned 7 individuals and 1 entity under the Iran Sanctions Regime. The designated parties are: (i) Ali Esfanjani; (ii) Abdulvahap Kocak; (iii) Ali Kocak; (iv) Naji Sharifi Zindashti; (v) Mohammad Reza Ansari; (vi) Muhammed Abd al-Razek Kanafani; (vii) Mohammed Reza Naserzadeh; and (viii) the Islamic Revolutionary Guard Corps Quds Force (IRGC-QF) Unit 840. (UK and US step up action to tackle domestic threat from Iran - GOV.UK (www.gov.uk); https://assets.publishing.service.gov.uk/media/65b7cc9f8c57620012647909/Notice_Iran_290124.pdf).

3. Libya Sanctions

• UK Government amends one entry on the UK sanctions list under Libya regime: On February 2, 2024, the UK Government made one variation to the entry for Safia Farkash Al-Barassi under the Libya sanctions regime. This individual is no longer subject to a travel ban, but remains subject to an asset freeze. (https://www.gov.uk/government/publications/the-uk-sanctions-list).

4. Myanmar Sanctions

• UK Government adds 4 entities to the UK sanctions list under the Myanmar Regime: On February 1, 2024, the UK Government designated four entities under the Myanmar Sanctions Regime, namely: (i) 101st Light Infantry Division; (ii) 77th Light Infantry Division; (iii) Mining Enterprise 1; and (iv) Mining Enterprise 2. In conjunction with these designations, the UK has released a joint statement with eight other countries and the EU further condemning the regime's continued violence and repression of its own people. (Myanmar military-linked enterprises and infantry divisions sanctioned 3 years on from the military coup - GOV.UK (www.gov.uk)).