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Analysis, Financial Crime, Sanctions, UK

ANALYSIS: Financial industry and legal firms ‘tying themselves in knots’ trying to obey UK’s ‘vague’ sanctions guidance

By Matei Rosca for AML Intelligence

After years of telling British firms to fill their boots with Russian money, the British government is now seemingly unable to help the City make sense of the new marching orders. 

The legal and financial sectors are struggling to get to grips with the wave of Russia and Belarus-related sanctions enacted after the invasion of Ukraine in February 2022, insiders say, as contradictory interpretations of the law are allowed to stand amid confusion over government guidance. 

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