Traders now have extra support for navigating the UK Sanctions List, as the government published a new guide to using its online search tool last week (13 February).
Additional UK sanctions could be introduced on Russia following the release of evidence about opposition leader Alexei Navalny’s death.
And sanctions could also be an important lever in talks between the US and Iran taking place today (17 February), as the pariah state says it’s open to making concessions on its nuclear programme in exchange for economic relief.
Sanctions tool user guide
The Foreign, Commonwealth and Development Office has published a new user guide designed to help traders navigate its sanctions tool.
The UK Sanctions List search tool, released in 2024, enables traders to search for individuals, organisations and ships which are subject to UK sanctions.
The new user guide offers explanations of the functions and features of the tool, as well as how to use it. You can review the full guide here.
It’s also worth noting that the UK Sanctions List is now the only source for finding sanctions designations, as the Office of Financial Sanctions Implementation’s Consolidated List closed at the end of January.
Fresh Russian sanctions after Navalny revelation?
The UK could be set to impose fresh sanctions on Russia after evidence was published suggesting the state poisoned opposition leader Alexei Navalny, who died in a Siberian prison in 2024.
Foreign secretary Yvette Cooper told Laura Kuenssberg that the allegation was “deeply serious” and that the UK “continue[s] to look at coordinated action, including increasing sanctions on the Russian regime”.
“We believe that it is the partnerships that we build abroad that make us stronger at home. It is by acting alongside our European allies, alongside allies across the world, that we do maintain that pressure on the Russian regime.”
Sweden, France, Germany and the Netherlands announced on Saturday that they believed Navalny’s death was most likely the result of frog toxin epibatidine, lethally administered by the Russian state.
Comparing the incident to the 2018 Novichok poisonings in the UK, the countries’ report alleged that “only the Russian state had the combined means, motive and disregard for international law to carry out the attacks”.
The five nations submitted the findings to the Organisation for the Prohibition of Chemical Weapons, claiming Moscow breached the organisation’s conventions.
The UK’s Russia sanctions regime is designed to secure peace, sovereignty and compensation for Ukraine. For more information about trade and financial sanctions imposed on Russia, the government’s specialist guidance is available here.
UK sanctions warning
Alongside increasing export controls and sanctions, there have been a number of high-profile breaches suggesting that even well-resourced firms struggle to get compliance right.
After concerns emerged that a British firm could invertedly be supplying dual-use goods to Russia despite having a valid, government-issued licence, Chartered Institute of Export & International Trade Export Controls Advisory Practice lead, Daniela Turiccki, warned that due diligence on Russian sanctions “isn’t just a matter of compliance”.
“It’s a question of not contributing to the atrocities that the Kremlin is instigating in Ukraine, and an issue of national security for the UK.
“Companies exporting goods subject to controls and sanctions should consider going further than compliance when it comes to ensuring they aren’t inadvertently supporting Putin’s illegal war efforts.”
She added that any company applying for an export licence should always complete end-user undertakings to ascertain who will be the final recipient of their products.
For more guidance on export controls compliance, including tailored advice for your business, you can explore the Chartered Institute’s advisory services.
US-Iran nuclear talks
A second round of talks between the US and Iran to reach a deal to curb the latter’s nuclear programme is set to take place today in Geneva, Switzerland.
Iran’s deputy foreign minister, Majid Takht-Ravanchi, told the BBC in Tehran that the country would be willing to make concessions on its uranium-enrichment programme in exchange for economic relief.
“We are ready to discuss this and other issues related to our programme if they are ready to talk about sanctions,” Takht-Ravanchi said.
US officials have previously stated Iranian reluctance had prevented a deal, with US secretary of state Marc Rubio saying US President Trump wants to reach one but it’s “very hard” as recently as Saturday (14 Saturday)
Takht-Ravanchi responded that “the ball is in America’s court”.
Tensions between the US and Iran have flared in recent months following Iran’s violent crackdown on protestors challenging the regime. The US has stationed military forces in the region and yesterday (16 February) the Iranian Revolutionary Guards Corps (IRGC) carried out naval drills in the Strait of Hormuz.
UK-Iran sanctions
The UK government introduced new sanctions on 10 individuals and one organisation in response to the regime’s handling of the protests. This includes the Iranian Minister of the Interior, police chiefs and high-ranking members of the IRGC.
The measures were introduced to “to hold the Iranian authorities accountable for a number of serious human rights violations”, according to the government press release.
While concrete figures are difficult calculate, data shared by health authorities, morgues and graveyards suggest that the death toll could be as high as 30,000 people.
There are currently over 550 UK sanctions in place on Iranian individuals and organisations.
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