This fortnight’s update highlights significant UK and international developments in sanctions and export controls, including new OFSI General Licences connected to Lukoil, fresh designations under the UK’s Russia and Cyber regimes, and parliamentary scrutiny concerning the use of interest accrued on the frozen proceeds from the sale of Chelsea Football Club.
We examine proposals from Dekleptocracy for additional, under-utilised sanctions targeting chemicals essential to Russia’s military capabilities; the latest changes to OFSI’s General Licences relating to Lukoil International and Lukoil Bulgaria; and the NCA’s “Operation Destabilise”, which exposes an alleged billion-dollar money laundering network linked to Russian military funding.
Further updates include new UK sanctions designations targeting cybercrime groups and disinformation networks, amendments relating to North Korean cyber activity, parliamentary commentary on sanctions circumvention and sovereign asset profits, and forthcoming changes to the UK’s export control regulations to align with revised EU control lists.
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