NTE 2024/07: Russian sanctions
Published 1 May 2024
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This publication is available at https://www.gov.uk/government/publications/notice-to-exporters-202407-russian-sanctions/nte-202407-russian-sanctions
Introduction
Non-compliance with sanctions legislation is a serious offence. Those who breach sanctions may be subject to a range of enforcement actions, including large financial penalties or referral for criminal prosecution. Exporters should follow licensing requirements as laid out in Russia sanctions: guidance.
UK-Russia trade sanctions
The UK has:
- significantly expanded and deepened its sanctions capability
- reinforced cross-government co-ordination
- increased investment in sanctions implementation and enforcement
The government works with UK businesses to ensure that sanctions are enforced. There is an increase in the number of voluntary disclosures to HMRC about sanctions breaches.
Over £20 billion of UK-Russia bilateral trade (2021 figures) is now under full or partial sanction. There is a:
- 94% fall in Russian imports into the UK
- 74% fall in UK exports to Russia
Goods and technology sanctions
The UK has comprehensive good and technology export sanctions in place, including:
- military
- critical industry
- dual-use
- aviation and space
- defence and security
- oil refining
- quantum computing and advanced materials
- goods used for Russia’s energy sector
- jet fuel and fuel additives
- luxury goods
- and other products which Russia depends on the UK and G7 partners for
The Common High Priority Items (CHP) list lists items critical to Russian weapons systems and its military development that are subject to UK sanctions.
Economic deterrence initiative
The government has committed £50 million to support a new Economic Deterrence Initiative to further boost our diplomatic and economic tools and improve sanctions implementation and enforcement and to tackle sanctions evasion across the UK’s trade, transport and financial sectors.
Deter, disrupt and demonstrate – UK sanctions in a contested world: UK sanctions strategy published in February 2024 sets out the UK Government’s approach to use sanctions to:
- address global threat
- promote international norms
- protect the UK
Enforcement of sanctions is a main element of the strategy.
Contact Export Control Joint Unit (ECJU)
Export Control Joint Unit
Department for Business and Trade
Old Admiralty Building
Admiralty Place
London
SW1A 2DY
Email [email protected]
Telephone 020 7215 4594
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