Author: Azizur Rahman 4 March 2022
Rahman Ravelli was invited on to Talk Radio to outline how the UK imposes sanctions.
Rahman Ravelli told listeners on the station’s Ian Collins show about the UK government’s moves to impose sanctions - under the Sanctions and Anti-Money Laundering Act 2018 – on Russians with connections to Vladmir Putin’s regime, following the invasion of Ukraine.
Rahman Ravelli explained that the Act gives the government the authority to target individuals and entities for sanctions, as long as there is a reasonable basis for doing so. They emphasised that the law gives a lot of discretion to the government and the ability to act quickly.
Rahman Ravelli also talked about the process by which a target of sanctions can challenge the government’s action. Those who wish to do this must submit evidence to OFSI (the Office of Financial Sanctions Implementation). If they are not happy with OFSI’s response, they can take their case to the High Court.
But, Rahman Ravelli, added, such challenges are difficult to win. Those bringing one have to show that a procedural error has been made or that the sanctions are unreasonable.
They said that while there is a “fairly big circle’’ of Russian oligarchs in London who have a lot of investments here, many of those assets are not owned directly. The UK government has been acting cautiously regarding who it imposes sanctions on.
You can listen to Rahman Ravelli's interview below.
Aziz Rahman is Senior Partner at Rahman Ravelli and its founder. His ability to coordinate national, international and multi-agency defences has led to success in some of the most significant corporate crime cases of this century and top rankings in international legal guides. He is recognised worldwide as one of the most capable legal experts regarding top-level, high-value commercial and financial disputes.