Russia: Trust services sanctions All persons designated underâ¯theâ¯Russiaâ¯financial sanctions regime have been designated for the purpose of trust services sanctions. On 21 March 2023 the Foreign, Commonwealth and Development Office updated theâ¯UK Sanctions Listâ¯on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. All persons currently designated under the Russia regime (1,730 entries) have been amended on the Consolidated List and are now subject to trust services sanctions. 7 entries have also been updated to reflect existing further restrictions. The 'Other Information' field for all entries has been amended to provide details of further financial restrictions, and the date trust services sanctions were imposed. All entries remain subject to an asset freeze and no further changes have been made to the Consolidated List. Further details can be found in the notice. OFSI has issued General Licence INT/2023/2589788 under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019. Under General Licence INT/2023/2589788, persons may . The permissions under this General Licence apply to persons from the date of designation and will expire at 23:59 on the 90th calendar day from taking effect for the purposes of Regulation 18C. Note that the expiry date will differ depending on the date for each designation. It may be varied, revoked, or suspended by HM Treasury at any time. Any persons intending to use the General Licence should first consult the copy of the Licence and refer to OFSIâs general guidance. Persons using the General Licence must report to OFSI within 30 calendar days of undertaking any activity. The relevant reporting form can be found here. OFSI has also published a blog and updated its Russia guidance to include further information on prohibitions on trust services. The latest guidance can be found here. To see all publications related to trust services sanctions, If you have any questions about this email, please contact us using the link below. | 