Via a recent Notice to Exporter Update, the UK has implemented further restrictions on trade with Russia.

This details additional prohibitions on export, supply and delivery, making available of additional products and brokering services. These measures are to be added to the critical-industry goods list as well as the defence and security goods and technology list.   

The updates also include a prohibition on the supply of additional business services relating to auditing, advertising, architectural / engineering and consultancy / design relating to IT. This is detailed within Schedule 3J “Professional and Business Services” 

Financial Sanctions have also increased with amendments to the restrictions on securities, money market instructions and loans / credit arrangements to persons connected with Russia. Further information is available from OFSI, Office for Financial Sanctions Implementation  

The prohibitions apply directly and indirectly to a person connected with Russia. The legislation allows for certain exceptions where licences can be granted in limited circumstances.       

NTE 2022/33 and The Russia (Sanctions) (EU Exit) (Amendment) (No.17) Regulations 2022 confirms the full details.

While you are here you may be interested in some Strong & Herd LLP training courses & live clinics related to this topic:

Russian Sanction update