The tragic events in Ukraine have caused Western governments to take various steps to cause economic damage to the Russian state, Russian companies and Russian nationals. In coordination with other governments, the UK Government has imposed escalating sanctions, which we are tracking here.
As part of this approach the UK Government has also brought forward the publication of the Economic Crime (Transparency and Enforcement) Bill (the “Bill”) – indeed Prime Minister Boris Johnson said that “There is no place for dirty money in the UK. We are going faster and harder to tear back the façade that those supporting Putin’s campaign of destruction have been hiding behind for so long. Those backing Putin have been put on notice: there will be nowhere to hide your ill-gotten gains.”