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Trading under sanctions with Russia

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Trading under sanctions with Russia

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What import and export restrictions apply due to sanctions for UK companies when trading with Russia.

he UK government has imposed a range of sanctions measures, including trade and financial sanctions, under The Russia (Sanctions) ( EUExit) Regulations 2019(“the Russia Sanctions Regulations”).

The purposes of the Russia Sanctions Regulations are to encourage Russia to cease actions:

  • destabilising Ukraine, or
  • undermining or threatening the territorial integrity, sovereignty or independence of Ukraine

UK businesses are responsible for the decision on whether to trade with Russia.

Business should expect a high unpredictable trading environment as a result of:

  • designations of individuals and entities under the Russia Sanctions Regulations by the UK
  • retaliatory measures by Russia

The Russia Sanctions Regulations affects several aspects of trade with Russia, including:

  • the movement of goods to and from Russia
  • the settling of financial transactions with suppliers and customers
  • trading with certain businesses and individuals

Businesses should seek legal advice if they plan to continue trading with Russia.

gov.uk

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