Russia sanctions
Also called sanctions against Russia, russia sanctions regime
Russia sanctions are the restrictive measures the EU, UK, US and allies impose on Russia, mainly since its 2014 annexation of Crimea and 2022 invasion of Ukraine. They freeze assets of listed people and companies, ban many trade, finance and service dealings, and cap the price of Russian oil carried by Western shipping.
How it works
Each jurisdiction runs its own regime. The EU acts through Council regulations amended in successive packages. The UK uses its Russia sanctions regulations. The US relies on executive orders administered by OFAC. Firms screen customers, owners and payments against all applicable lists, apply ownership and control rules, and check trade against sectoral bans on goods, services and investment.
The Russia regimes are the largest and most complex sanctions programmes in force. They change often, with new listings and package amendments every few months. Evasion through third countries, shell companies and crypto is widespread, so supervisors expect firms to look beyond names to ownership, trade flows and red flags. Breaches have led to fines in the EU, UK and US.
The rules
Sets sectoral bans on trade, finance, services and investment, amended by successive packages since 2022.
EU persons and entities, and business done in the EUFreezes funds and economic resources of listed persons and bans making funds available to them.
EU persons and entitiesSets UK asset freezes, trade, financial and shipping measures on Russia, enforced by OFSI and other agencies.
UK persons and conduct in the UKProvides the main US authority for designating Russian persons and sectors, administered by OFAC.
US personsCommon questions
Do EU, UK and US Russia sanctions list the same people?
Largely but not fully. Each jurisdiction lists separately and on different dates. Ownership rules also differ, so firms operating in several jurisdictions screen against every applicable list.
What is the Russian oil price cap?
A G7 and EU measure that bans Western shipping, insurance and financing services for Russian crude and oil products sold above a set price. Service providers must collect attestations of the price paid.
Why do Russia sanctions change so often?
The EU, UK and US add listings and measures in response to the war and to evasion. The EU adopts them in packages, each amending its regulations, so firms update screening and controls after each round.
