IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
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Inception date: 04 Jul 2022 | Removal date: open ended

Controls on commercial transactions and investment instruments

On 29 June 2022, the UK Treasury issued a notice imposing sanctions on pro-Russian online news site United World International on account of its alleged role in the invasion of Ukraine. The Financial Sanctions Implementation Office of HM Treasury has frozen the assets of this entity and transactions by UK citizens or companies with this entity are prohibited.

According to the financial sanction notice, United World International, which is located in Istanbul, Turkey, is an online news site that promotes pro-Russian disinformation. The Financial Sanctions Implementation Office argued that “there are reasonable grounds to believe that this entity is or has been involved supporting, or promoting policies or actions which destabilises Ukraine or undermines or threatens the territorial integrity, sovereignty or independence of Ukraine.”

Apart from the above-mentioned entity, the UK also introduced sanctions on several Russian individuals.

AFFECTED COUNTRIES

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