Ukraine Guidance and Support

The information below includes a round-up of the sanctions announced by the UK Government, resources to support businesses as well as guidance for humanitarian support. 

Our thoughts are with all those affected in Ukraine.

Ukraine Guidance and Support

We will be regularly updating this page with the latest guidance. We are also running events to keep businesses informed. Past LCCI webinars include:

  • 'The Crisis in Ukraine - Update on Freight and Customs for UK Businesses' webinar, click here to watch.
  • ‘Crisis in Ukraine – the impact to UK businesses’ webinar click here to watch.

Sanctions announced against Russian and Belarussian entities

Banks

• All Russian banks will have their assets frozen and will be excluded from the UK’s financial system.

• Russian banks will be prevented from accessing Sterling and clearing payments through the UK.

• Selected Russian banks will be removed from the SWIFT messaging system, which will harm their ability to operate globally.

• The UK, EU and US have agreed to impose restrictive measures on the Russian Central Bank that will prevent it from deploying its international reserves as a way of undermining the effects of previously announced sanctions.

• Steps will be taken to prohibit any UK persons from undertaking financial transactions involving the Russian Central Bank, the Russian National Wealth Fund, and the Ministry of Finance of the Russian Federation.

• Sberbank, Gazprombank, Russian Agricultural Bank, Alfa-Bank JSC, SMP Bank, and Ural Bank for Reconstruction and Development have all been sanctioned, with assets frozen.

Individuals

• A number of individuals have been named for sanctions, including the Russian President Vladimir Putin, Russian Minister of Foreign Affairs Sergei Lavrov, and several Russian oligarchs. The sanctions include freezing of assets.

• The Government intends to introduce legislation that will prevent Russian nationals from holding more than £50,000 in bank accounts.

• Members of Belarus’s Ministry of Defence have been sanctioned.

 

Companies

• Russian companies will not be able to borrow from UK markets and unable to raise finance in the UK.

• Five Russian defence companies have been sanctioned: Rostec, Uralvagonzavod, Tactical Missile Corporation, United Aircraft Corporation and United Shipbuilding Corporation.

• Aeroflot will be prohibited from landing in the UK.

• The UK Government will introduce measures to prevent Russian companies from issuing transferable securities and money market instruments in the UK.

• Belarussian state enterprises JSC 558 Aircraft Repair Plant and JSC Integral have been sanctioned by the Government.

• a further ban on UK companies providing insurance and re-insurance services related to these goods and technology.

• Sovcomflot, Kronshadt, Wagner, Alrosa, and Russian Railways are among a number of Russian and Belarussian businesses who have sanctioned with asset freezes as of 23 March 2022.

• The Government has banned all new outward investment to Russia.

Oil, Gas and Energy

• By the end of 2022, the UK Government intends to “end all dependency” on Russian coal and oil, and end imports of gas as soon as possible thereafter. Exports of key oil refining equipment and catalysts will also be banned.

• British Chambers of Commerce has outlined what the conflict in Eastern Europe means for UK energy supply.

Transport and Logistics

The Secretary of State for Transport has written to all UK ports asking them not to provide access to any Russian flagged, registered, controlled, chartered, or operated vessels. UK ports will be given support in identifying Russian ships within this scope, and legislation will soon be introduced.

Aviation

The UK has announced a new suite of aviation sanctions to give the UK Government new powers to detain any Russian aircraft here in the UK. This includes new powers to detain Russian aircraft as well as remove aircraft belonging to designated individuals and entities from the UK register. It will also be a criminal offence for any Russian aircraft to fly or land in the UK.

Exports and Imports

• The Government has announced a ban on exports to Russia of high-end luxury goods, while several products will be hit with new import tariffs.

• Russian vodka is one of the iconic products affected by the tariff increases, while the export ban will likely affect luxury vehicles, high-end fashion and works of art. The export ban will come into effect shortly.

• Russian imports of the following products will face an additional tariff increase of 35%, over and above any existing tariff rate. These products include: iron, steel, fertilisers, wood, tyres, railway containers, cement, copper, aluminium, silver, lead, iron ore, residue/food waste products, beverages, spirits and vinegar (this includes vodka), glass and glassware, cereals, oil seeds, 2 paper and paperboard, machinery, works of art, antiques, fur skins and artificial fur, ships and white fish.

• The Government has announced a ban on imports of iron and steel products.

Trade

• Exports of high-end and critical technical equipment and components in sectors including electronics, telecommunications, and aerospace will be prohibited.

• There will be a suspension of dual-use export licences to cover components which can be used for military purposes.

• a ban on the export of aviation and space-related goods and technology, including technical assistance.

Resources on trade, transport and financial services

Trade


• The Department for International Trade (DIT) recommend that concerned companies trading with Ukraine and Russia contact the Export Support Service (ESS) on 0300-303-8955. Alternatively, companies can access the ESS landing page which also features a dedicated link for Ukraine and Russia enquiries.

• For further information on export controls: contact the Export Control Joint Unit Helpline on 020 7215 4594 or email exportcontrol.help@trade.gov.uk or subscribe to the Export Control Joint Unit’s notices to exporters.

• For further information on import controls: contact the Department for International Trade’s Import Licensing Branch on importcontrols@trade.gov.uk

• The British Chambers of Commerce has compiled a Q&A for businesses that trade in the affected regions.

Financial Services


• For further information on financial sanctions: contact the Office of Financial Sanctions Implementation OFSI@hmtreasury.gov.uk or subscribe to the Office of Financial Sanctions Implementation’s e-alerts

• The Financial Conduct Authority (FCA) has further information on steps that firms should take if they have any concerns over the implications of financial sanctions on Russian entities. This includes screening against the UK Sanctions List, and the list of asset freeze targets for financial sanctions obligations.

Transport

For further information on transport sanctions: contact the Department for Transport on transportsanctions@dft.gov.uk

Sanctions

For general information on sanctions: contact the Foreign, Commonwealth & Development Office’s Sanctions Unit on sanctions@fcdo.gov.uk

Changes to visas and travel

• The Home Office has announced that Ukrainians who are on work, study or visit visas in the UK will have their visas temporarily extended or be able to switch onto different visa routes.

• The Government has advised against travel to Russia at this time.

Humanitarian support

The UK Disasters Emergency Committee (DEC)

The UK Disasters Emergency Committee (DEC) coordinates 15 leading humanitarian aid charities, including the British Red Cross, Oxfam and Save the Children, to respond to pressing humanitarian crises oversees. Donations to the DEC goes to these charities and trusted partners operating in the field. Their Ukraine Humanitarian Appeal will use donations to provide shelter, healthcare, protection, food and water to 3 million displaced Ukrainians.

 

Find out more

The International Chambers of Commerce UNICEF programme

The International Chamber of Commerce (ICC) is working with UNICEF on what businesses can do for those most affected by the war in Ukraine – children. UNICEF’s is aiming to scale up its efforts in the next three months to respond to the growing humanitarian needs in Ukraine and surrounding countries. Donations to UNICEF can help to ensure the needs of 7.5 million children in Ukraine are met, from schooling and psychosocial support to healthcare and sanitation.

FIND OUT MORE

Cyber security advice


• The National Cyber Security Centre has called on organisations in the UK to bolster their online defences. The NCSC has urged organisations to follow its guidance on steps to take when the cyber threat is heightened. While the NCSC is not aware of any current specific threats to UK organisations in relation to events in and around Ukraine, there has been an historical pattern of cyber attacks on Ukraine with international consequences.

• The guidance encourages organisations to follow actionable steps that reduce the risk of falling victim to an attack. More information on cyber security: CNI, large orgs and public sector – NCSC alert, SMEs – Small business guide, Microbusinesses, sole traders – Cyber Action plan, Citizens – Cyber Aware

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