What’s New? The European Union and the United Kingdom remain committed “to keep up the pressure on the Kremlin” by way of imposing further sanctions as Russia’s illegal invasion of Ukraine enters the fourth year. Within a course of the last three months, the EU adopted two new sanctions packages, with new restrictions ranging from asset freezes imposed on over a hundred of individuals, companies and vessels to banning imports of aluminum originating in Russia. The United Kingdom followed the European Union’s suit, imposing new sanctions as recently as February 24, 2025.
US Policy Changes. Stay ahead of US law and policy changes, including shifting restrictive trade measures under the current administration, with our dedicated resource center available here.
Clarifying the Rules. The European Commission issued a series of long-awaited clarifications on the ‘best efforts’ and ‘no re-export to Russia’ clause requirements. The UK Office of Trade Sanctions Implementation (OTSI) also provided new guidance on ‘no Russia’ clauses, highlighting their role in due diligence best practices.
Expanding Sanctions Reporting. In the United Kingdom, a new group of companies, including insolvency practitioners, letting agents and art market participants, now fall under the reporting requirements relating to Russia sanctions.
Easing Pressure on Syria. The EU agreed to suspend certain sanctions against Syria following the collapse of President Assad’s regime in December 2024. The United Kingdom has announced its willingness to implement similar measures on February 13, 2025.
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