The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022

UK Statutory Instrument 2022 No. 194 — creates 1 criminal offence.

1offences created

0recorded in force

0revoked

Made: 28 February 2022
In force from: 1 March 2022
Extent: Not stated
Subject: International sanctions, export control and trade restrictions
Made under: Sanctions and Anti-Money Laundering Act 2018

Explanatory note

(This note is not part of the Regulations) — published with the instrument by the department that made it. © Crown copyright, reused under the Open Government Licence v3.0.

These Regulations are made under the Sanctions and Anti-Money Laundering Act 2018 (c. 13) to amend the Russia (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/855) (“the 2019 Regulations”). The Regulations add new financial sanctions to Part 3 (Finance) of the 2019 Regulations. Existing restrictions on dealing with certain financial instruments and providing loans and credit are amended to extend the sanctions prohibitions to a broader range of transferable securities and money market instruments (regulation 16 of the 2019 Regulations); and loans and credit (regulation 17). Further restrictions on correspondent banking relationships and processing of sterling payments are also introduced (in new regulation 17A of the 2019 Regulations). The amendments also introduce a power for the Secretary of State to designate persons for the purposes of that provision. These Regulations provide for exceptions to, and for licensing powers in relation to, those prohibitions. In particular, there is provision to make clear that a licence may authorise acts which would otherwise be prohibited by any of regulations 11 to 17A for a particular period beginning with the coming into force of the prohibition, or the date of any designation made for the purposes of those provision. This would allow a period for persons affected to arrange their affairs to comply. A full impact assessment of the effect that this instrument will have on the costs of business, the voluntary sector and the public sector has been published alongside these Regulations and is available at https://www.gov.uk/government/collections/uk-sanctions-on-russia, or from the Foreign, Commonwealth and Development Office, King Charles Street, London SW1A 2AH.

Offences created by this instrument

Correspondent banking relationships etc regulation 17A(4) · Status not determined · Strict liability

What Parliament said about it

Contributions, debates and written statements mentioning this instrument by name. Parliamentary material is reused under the Open Parliament Licence v3.0.

Sanctions Commons · Commons Chamber · 1 March 2022 · Michael Ellis
With the leave of the House, I will close this debate. The last three hours have shown us that the House stands united. It has shown us many things, but one of those is that we speak as one in support of Ukraine. Everyone I have heard in this debate, and I have been here almost the whole time, has welcomed these messages. I am grateful to Members who have contributed—there have been insightful and timely discussions—and I will try to address and respond to some of the important questions they have raised. I emphasise that nothing is off the table. The measures we have taken have already had…
Marine Protected Areas (Bottom Trawling) Commons · Commons Chamber · 1 March 2022 · Chris Grayling (Epsom and Ewell) (Con)
I beg to move, That leave be given to bring in a Bill to regulate and limit the practice of bottom trawling in marine protected areas, and for connected purposes. This is a significant change in tone and issue from the serious matters that we have just been discussing, but the process of our democracy must continue as well. There is a growing consensus in this country that we need to do much more to protect our natural habitats, to ease the pressure on our wildlife and to play a part in reversing the catastrophic loss of biodiversity worldwide. As some hon. Members will know, I am passionate…
Sanctions Commons · Commons Chamber · 1 March 2022 · The Minister for the Cabinet Office and Paymaster General (Michael Ellis)
I beg to move, That the Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 (SI, 2022, No. 194), dated 28 February 2022, a copy of which was laid before this House on 28 February, be approved.
Business of the House Lords · Lords Chamber · 3 March 2022 · Baroness Evans of Bowes Park
That Standing Order 73 (Affirmative Instruments) be dispensed with on Thursday 3 March to enable motions to approve the Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 and Russia (Sanctions) (EU Exit) (Amendment) (No. 3) Regulations 2022 to be moved, notwithstanding that no report from the Joint Committee on Statutory Instruments on the instruments has been laid before the House.
Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 Lords · Lords Chamber · 3 March 2022

How Parliament handled it

Both Houses had to approve this instrument before it could take effect, and did so.

Procedure: Made affirmative — both Houses had to approve it
Could either House amend it?: No. A statutory instrument is put to each House as a whole thing, to be approved or not. Neither House can change a word of it.
Committee: Drawn to the special attention of the Houses by a scrutiny committee

Procedural history

Instrument created 28 February 2022
Instrument made (signed into law) 28 February 2022
Laid before the House of Commons 28 February 2022 · Commons
Laid before the House of Lords 28 February 2022 · Lords
Motion to approve the instrument tabled by the Government 28 February 2022 · Commons
Motion to approve the instrument tabled by the Government 28 February 2022 · Lords
Instrument comes into force as law 1 March 2022
Considered by the Secondary Legislation Scrutiny Committee (SLSC) 1 March 2022 · Lords
Information paragraph provided by the Secondary Legislation Scrutiny Committee (SLSC) 1 March 2022 · Lords
Chamber debate 1 March 2022 · Commons
Question on motion to approve the instrument put 1 March 2022 · Commons
Instrument approved 1 March 2022 · Commons
Motion tabled that Standing Order 73 be dispensed with to enable motion to approve to be moved 2 March 2022 · Lords
Question on motion that Standing Order 73 be dispensed with to enable motion to approve to be moved put 3 March 2022 · Lords
Motion that Standing Order 73 be dispensed with to enable motion to approve to be moved agreed to 3 March 2022 · Lords
Chamber debate 3 March 2022 · Lords
Question on motion to approve the instrument put 3 March 2022 · Lords
Instrument approved 3 March 2022 · Lords
Instrument remains law 3 March 2022
Procedure concluded in the House of Commons and the House of Lords 3 March 2022 · Commons, Lords
Approval period ends 27 March 2022
Considered by the Joint Committee on Statutory Instruments (JCSI) 30 March 2022 · Commons, Lords
Drawn to the special attention of the Houses by the Joint Committee on Statutory Instruments (JCSI) 30 March 2022 · Commons, Lords
Joint Committee on Statutory Instruments (JCSI) draws the special attention of both Houses to the instrument on the grounds that it is defectively drafted 30 March 2022 · Commons, Lords

From Parliament's Statutory Instruments service. Parliamentary material is reused under the Open Parliament Licence v3.0.

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