This news release is issued to publicise Notice to Exporters NTE 2023/24: further sanctions against Russia introduced, which came into operation on 15 December 2023.
The legislation for the new measures is the Russia (Sanctions) (EU Exit) (Amendment) (No.4) Regulations 2023.
The legislation amends sanctions legislation originally introduced in 2014. The latest version of the legislation is the Russia (Sanctions) (EU Exit) Regulations 2019 (the ‘2019 Regulations’).
On 18 December 2023 the Export Control Joint Unit (ECJU) produced a guidance note for the expansion of the current prohibitions within Regulations. These are regarding:
- new reporting obligations on the assets of designated persons
- amendments to existing restrictions on processing payments
- the introduction of a new licensing ground to support entities seeking to divest themselves of their Russian interests
This sanctions package includes import measures. Information on these prohibitions can be found in the notice to importers Russia import sanctions.
Guidance on the scope of sanctions against Russia, including the circumstances in which licences can be granted, will shortly be updated on the Sanctions page of the Customs and Excise website.
For further information please see Export Notice NTE 2023/24.
For guidance on exporting or doing business in Russia, contact the Export Control Joint Unit.
