# The Russia (Sanctions) (EU Exit) Regulations 2019, Regulation 18A: Provision of financial services relating to foreign exchange reserve and asset management


(1) A person (“P”) must not provide financial services to a person mentioned in paragraph (2) where—
(a) the financial services are for the purpose of foreign exchange reserve and asset management; and
(b) P knows, or has reasonable cause to suspect, that the financial services are provided to such a person.
(2) The persons mentioned in this paragraph are—
(a) the Central Bank of the Russian Federation,
(b) the National Wealth Fund of the Russian Federation,
(c) the Ministry of Finance of the Russian Federation,
(d) a person owned or controlled directly or indirectly (within the meaning of regulation 7) by a person mentioned in sub-paragraphs (a) to (c), or
(e) a person acting on behalf of or at the direction of a person mentioned in sub-paragraphs (a) to (c).
(3) Paragraph (1) is subject to Part 7 (Exceptions and licences).
(4) A person who contravenes the prohibition in paragraph (1) commits an offence.

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Source: https://www.legislation.gov.uk/uksi/2019/855/regulation/18A (the official version)
Page: https://openlegislation.uk/russia-sanctions-eu-exit-regulations-2019/regulation-18A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.