Expands restrictions on investments into the Russian Federation

On 18 July 2022, by the Russia (Sanctions) (EU Exit)(Amendment) (No.12) Regulations 2022, the United Kingdom introduced new restrictions on investments into the Russian Federation. Restrictions regarding investments (and services directly related to those investments) now affect direct acquisition of any ownership interest: a. in land located in the Russian Federation; b. for the purpose of making funds or economic resources available to persons connected with the Russian Federation; c. establishing any joint venture with a person connected with the Russian Federation; d. opening a representative office or establishing a branch or subsidiary located in the Russian Federation. The amendment came into force on July 19, 2022.

• Type:

  • Entry and establishment (Ownership and control, Other)

• Industry:

  • Not industry specific

• Sources:

  • legislation.gov.uk, 2022 No. 801 SANCTIONS The Russia (Sanctions) (EU Exit) (Amendment) (No. 12) Regulations 2022, https://www.legislation.gov.uk/uksi/2022/801/made/data.pdf, 19 Jul 2022
  • Lexology, Sanctions tracker: new UK sanctions legislation, sanctions enforcement updates and more, https://www.lexology.com/library/detail.aspx?g=7e8bea4b-8643-4519-8693-30ba4db305ef&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2022-07-21&utm_term=, 20 Jul 2022