The UK Government has announced new sanctions imposed on ‘oligarch enablers’ who have knowingly aided sanctioned Russian oligarchs in concealing their assets.
Amidst recent developments on attempts by designated individuals to evade and circumvent sanctions through proxies, the UK sanctions:
- Target the financial fixers, offshore trusts, and shell companies which assist sanctioned Russian oligarchs;
- Target family members of oligarchs who hide their wealth;
- Are released as part of UK’s crackdown on sanction evasion and circumvention.
Firms should continue to remain up to date on UK sanctions developments to ensure that they comply with their sanctions obligations.