The review highlights that from 22 February to 22 October 2022, £18.39B in frozen funds were reported to OFSI as being held by on behalf of people designated on the UK’s Russia sanctions list and that OFSI received 236 reports of sanctions breaches.

Furthermore, the group added 1,271 new Russia Regime designated persons to the consolidated list between February and August 2022. The Review emphasises that their work will continue to be dominated by the Russian regime and firms should continue to consult their sanctions obligations.

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