HM Treasury announces Russian insurance-related sanctions plans

March 2022


HM Treasury announces Russian insurance-related sanctions plans, and the OFSI publishes new Consolidated Lists links 

HM Treasury has announced that the UK is to bring in further sanctions targeted at the provision of insurance and reinsurance services for Russian companies.  Also, The OFSI has recently confirmed that the ‘dual running period’, in which both the old and new versions of the Consolidated Sanctions List and the list of persons named in relation to financial and investment restrictions were updated simultaneously, has ended. The old versions of these lists will no longer be updated, and the links to the old formats were retired on 28 February 2022.

Insurance-related sanctions announcement

The new Consolidated Sanctions Lists

If you use the links available on GOV.UK to access the Consolidated List and the list of persons named in relation to financial and investment restrictions, in their various formats, there are new links to use to access the consolidated list files in the new format.

Please be particularly aware of the ever-increasing number of organisations and individuals being added to the lists in relation to Russia, Russian firms and companies and Russian individuals.  Increase the breadth of your searches to include individuals involved in Russian entities (so not just a firm or Company, but its Directors and potentially shareholders).  Use the links and resource set out above to perform thorough sanctions searches.

For more information read here.


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