Trade & Sanctions

UK General Licence for Lukoil International Business Continuation

The UK Treasury has issued a general licence allowing certain business operations involving Lukoil International and its subsidiaries to continue, despite existing sanctions. This licence is effective from November 27, 2025, and expires on February 26, 2026.

UK Financial Sanctions FAQs

The UK's Office of Financial Sanctions Implementation (OFSI) has updated its Financial Sanctions FAQs. These updates provide technical guidance and information on various sanctions regimes, including specific country measures and licensing. The latest updates include amendments and additions to existing FAQs, with the most recent changes noted on February 25, 2026.

Russia Sanctions: Persons Subject to Financial Restrictions

The UK's Foreign, Commonwealth & Development Office and Office of Financial Sanctions Implementation have updated guidance on persons subject to financial and investment restrictions under the Russia sanctions regime. The guidance lists entities like GAZPROM NEFT, PJSC SBERBANK, and VTB BANK, detailing restrictions on transferable securities and loans.

OFSI General Licence for PJSC Transneft Wind Down

The Office of Financial Sanctions Implementation (OFSI) has issued General Licence INT/2026/8889196, allowing persons to wind down transactions involving PJSC Transneft. This guidance is issued under The Russia (Sanctions) (EU Exit) Regulations 2019.

OFSI General Licence for Lukoil Business Continuation

The Office of Financial Sanctions Implementation (OFSI) has issued General Licence INT/2025/8031092, allowing for the continuation of business operations with Lukoil International Entities under the Russia (Sanctions) (EU Exit) Regulations 2019. This licence was initially published on November 27, 2025, and updated on February 25, 2026.

OFSI General Licences Update

The Office of Financial Sanctions Implementation (OFSI) has updated its collection of General Licences. The latest updates, issued in February 2026, include licences related to the wind-down of Russian entities like Maritime Mutual Re-Insurance and PJSC Transneft, as well as humanitarian activities in Myanmar and continuation of business for Lukoil and Rosneft subsidiaries.

TRA Executive Committee Terms of Reference

The Trade Remedies Authority (TRA) has published updated Terms of Reference for its Executive Committee, the body responsible for performance and delivery. The document outlines the committee's strategic leadership and resource prioritisation functions.

TRA Launches Investigations into Glass Container Imports from China and Turkey

The UK's Trade Remedies Authority (TRA) has launched two investigations into imports of glass containers from China and Turkey. These investigations will examine potential dumping and subsidisation practices that may be harming the UK glass industry.

Trade Remedies Authority Spend Data FOI Release

The Trade Remedies Authority has released its spend data for August-September 2025 as a Freedom of Information (FOI) disclosure. This notice provides links to the published data files.

Trade Remedies Authority Digital Technology Procurement FOI Release

The Trade Remedies Authority has released a Freedom of Information disclosure regarding its procurement and use of digital and technology products. This notice provides public access to information concerning the authority's technology acquisition practices.