Corporate tax in the UAE
In January 2022, the Ministry of Finance (Ministry) of the United Arab Emirates (UAE) announced its intention to…
The UK government made additional amendments to the Russia (Sanctions) (EU Exit) Regulations 2019 within the Russia (Sanctions) (EU Exit) (Amendment) (No.8) on April 14th 2022. This new amendment imposes new trade prohibitions regarding luxury goods, importation of steel and iron goods, oil refining software, goods and technology and quantum computing and advanced materials software, goods and technology.
The new amendment imposes existing measures on restricted technology and goods, to oil refining technology and goods and quantum computing and advanced materials technology and goods, restricting the delivery, supply, export, transfer or making available of such products for use in or to the RF. New restrictions have also been introduced on the delivery, supply, export, transfer and making available of luxury goods for use in or to the RF or to somebody connected to Russia.
New prohibitions were also introduced on the acquisition, supply, delivery and import of steel and iron products consigned from or originating in the RF. Subsequently, several enforcement, licensing and exemption provisions were introduced with regards to these measures.
Moreover, one day earlier, on April 13th, 2022, the UK foreign secretary announced 206 new designations of Russian individuals to the UK sanctions list. These new designations which were coordinated with the EU target Russian oligarch family members, close employees, and associates, as well as individuals that supported the unlawful breakaway regions of Ukraine. The newly designated persons are now subject to transport sanctions, travel bans and asset freezes. More information on the new designations made and the fresh restrictions introduced by the UK can be found here.