Regulation 44 Financial services and funds relating to energy-related goods and energy-related technology ...F10F11I1
United Kingdom
A person must not directly or indirectly provide, to a person connected with Russia, financial services in pursuance of or in connection with an arrangement whose object or effect is—
the export of energy-related goods,
the direct or indirect supply or delivery of energy-related goods,
the transfer of energy-related technology, or
the direct or indirect provision of technical assistance relating to energy-related goods F4or energy-related technology.
A person must not directly or indirectly make funds available to a person connected with Russia in pursuance of or in connection with an arrangement mentioned in paragraph (1).
A person must not directly or indirectly provide financial services or funds in pursuance of or in connection with an arrangement whose object or effect is—
the export of F6energy-related goods to, or for use in, Russia;
the direct or indirect supply or delivery of energy-related goods to a place in Russia;
directly or indirectly making energy-related goods F7or energy-related technology available—
to a person connected with Russia; or
for use in Russia;
the transfer of energy-related technology—
to a person connected with Russia, or
to a place in Russia; or
the direct or indirect provision of technical assistance relating to energy-related goods F9or energy-related technology—
to a person connected with Russia, or
for use in Russia.
Paragraphs (1) to (3) are subject to Part 7 (Exceptions and licences).
A person who contravenes a prohibition in any of paragraphs (1) to (3) commits an offence, but—
it is a defence for a person charged with an offence of contravening a prohibition in paragraph (1) or (2) (“P”) to show that P did not know and had no reasonable cause to suspect that the person was connected with Russia;
it is a defence for a person charged with an offence of contravening a prohibition in paragraph (3) to show that the person did not know and had no reasonable cause to suspect that the financial services or funds (as the case may be) were provided in pursuance of or in connection with an arrangement mentioned that paragraph.
Annotations
Textual amendments
- F1
Words in reg. 44(1)(c) inserted (24.4.2025) by The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/504), regs. 1(2), 4(5)(6)(c) (with reg. 17)
- F2
Word in reg. 44(1)(c) omitted (24.4.2025) by virtue of The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/504), regs. 1(2), 4(9)(a) (with reg. 17)
- F3
Reg. 44(1)(ca) inserted (24.4.2025) by The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/504), regs. 1(2), 4(9)(b) (with reg. 17)
- F4
Words in reg. 44(1)(d) inserted (24.4.2025) by The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/504), regs. 1(2), 4(5)(6)(c) (with reg. 17)
- F5
Reg. 44(3) substituted (21.7.2022) by The Russia (Sanctions) (EU Exit) (Amendment) (No. 14) Regulations 2022 (S.I. 2022/850), regs. 1(2), 8(b)
- F6
Words in reg. 44(3) substituted (24.4.2025) by The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/504), regs. 1(2), 4(4) (with reg. 17)
- F7
Words in reg. 44(3)(c) inserted (24.4.2025) by The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/504), regs. 1(2), 4(5)(6)(c) (with reg. 17)
- F8
Reg. 44(3)(ca) inserted (24.4.2025) by The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/504), regs. 1(2), 4(9)(c) (with reg. 17)
- F9
Words in reg. 44(3)(d) inserted (24.4.2025) by The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/504), regs. 1(2), 4(5)(6)(c) (with reg. 17)
- F10
Words in reg. 44 heading inserted (24.4.2025) by The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/504), regs. 1(2), 4(3) (with reg. 17)
- F11
Words in reg. 44 heading omitted (21.7.2022) by virtue of The Russia (Sanctions) (EU Exit) (Amendment) (No. 14) Regulations 2022 (S.I. 2022/850), regs. 1(2), 8(a)
Commencement
- I1
Reg. 44 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Notes on the whole SI
Textual amendments
- F1
Regulations extended (British overseas territories) (with modifications) (31.12.2020 immediately after both S.I. 2020/590 and S.I. 2020/951 have come into force) by The Russia (Sanctions) (Overseas Territories) Order 2020 (S.I. 2020/1571), arts. 1(1), 2, Schs. 1, 2 (as amended: (11.3.2021) by S.I. 2021/288, arts. 1(1), 2(2); (14.4.2022) by S.I. 2022/453, arts. 1(1), 3-38; (20.7.2022) by S.I. 2022/843, arts. 1(1), 3; (10.11.2022) by S.I. 2022/1167, arts. 1(1), 3-17; (15.12.2022) by S.I. 2022/1338, arts. 1(1), 3-10; (9.3.2023) by S.I. 2023/291, arts. 1(1), 3-9; (20.7.2023) by S.I. 2023/846, arts. 1(1), 3, 5-22; (30.9.2023) by S.I. 2023/846, arts. 1(2), 4; (14.3.2024) by S.I. 2024/370, arts. 1, 3-13; (3.10.2024) by S.I. 2024/987, arts. 1(1), 3-6; and (11.12.2025) by S.I. 2025/1307, art. 1(1), Sch. 15)
Notes on Chapter 4
Textual amendments
- F1
Words in Pt. 5 Ch. 4 heading inserted (24.4.2025) by The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2025 (S.I. 2025/504), regs. 1(2), 4(2) (with reg. 17)