FCDO publishes sanctions guidance for non-UK businesses

The Foreign, Commonwealth and Development Office (FCDO) has published guidance on UK sanctions for non-UK businesses.

The guidance concerns sanctions targetting Russia, and aims to assist businesses in third countries be aware of:

• the risks of losing access to services and goods provided by UK and other international banks and suppliers; and
• practical steps businesses can take to manage the risks of potentially severe disruption to business, including:
  • conducting a risk assessment;
  • establishing a company policy;
  • checking whether partners or customers are subject to an asset freeze;
  • checking for Russian connections; and
  • conducting regular checks and updates.