OFSI Russia, Enforcement & Monetary Penalties, Counter-Terrorism and General Guidances updated

On 16 May 2024, OFSI updated its General, Russia, Counter-Terrorism and Enforcement & Monetary Penalties guidance documents to reflect changes to sanctions legislation introduced through the Sanctions (EU Exit) (Miscellaneous Amendments and Revocations) Regulations 2024 and the Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2024, both of which were laid in Parliament on 15 May 2024.

Specifically, the guidance has been updated to reflect the following changes:

• A new reporting requirement on designated persons under Regulation 38A of The Republic of Belarus (Sanctions) (EU Exit) Regulations 2019
• New immigration measures under regulation 5 of the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019

As of today (16 May 2024), the new reporting requirement on designed persons under the Belarus Regulations is now in force.

The new immigration measures under regulation 5 of the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019 will come into force on 5 June 2024.

Along with these updates to guidance, the reporting forms for the designated person asset reporting requirements have been updated on OFSIs GOV.UK page.