UK Expands Russia Sanctions Designation Criteria
The U.K. last week expanded the criteria under which an individual or entity can be sanctioned under the nation's Russia sanctions regime. The changes entered into force July 31. The U.K. may now sanction an individual who directly or indirectly…
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"owns or controls" or is "working as a director (whether executive or non-executive), trustee, or other manager or equivalent of," a sanctioned individual or entity. An individual also can be sanctioned for providing financial services to a sanctioned party. The sanctions amendment also altered the "ship specification criteria" to "specify additional activities" for which a ship may be affected.