Overview
Steptoe partner Alexandra Melia and associate Elliot Letts authored an article for Export Compliance Manager titled "UK secondary sanctions? Expanding UK Russia sanctions designation criteria." The article discusses the implementation of The Russia (Sanctions) (EU Exit) (Amendment) (No. 3) Regulations 2024, which significantly broaden the criteria for the UK government to impose asset freezes and sanctions on individuals and entities. It highlights the potential impact on businesses and financial institutions, emphasizing the increased due diligence and risk assessment requirements due to the expanded designation criteria.
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