The UK government has today announced a new swathe of more than 100 sanctions targeting Russia, stepping up the pressure as Vladimir Putin continues to stall on ceasefire talks. This latest round of measures marks a significant step in the UK’s approach to curbing Russian economic influence amid ongoing conflict.

The latest UK sanctions include “target the supply chains of Russian weapons systems, including Iskander missiles, Kremlin-funded information operations, financial institutions that help Russia evade sanctions and ships in the Kremlin’s “shadow fleet” of oil tankers,” according to Sky News. They target people and companies that play significant roles in Russia’s economy and government. 

In the full list of sanctions targets shared by the Foreign, Commonwealth & Development Office, the UK government has taken aim at 50 entities involved in Russia’s financial sector and 27 individuals and entities involved in spreading Russian disinformation or supporting the Russian defence sector. Also sanctioned include a number of ships, and individuals and companies involved in the Russian energy, information, communications, and digital technologies sectors.

“Today’s measures will strike at the heart of Putin’s efforts to get around our sanctions and help block his failing attempts to reconnect to the international economy.”

– Foreign, Commonwealth & Development Office and The Rt Hon David Lammy MP

For those working in Anti-Money Laundering (AML) compliance within UK-regulated businesses, these developments bring fresh operational challenges and highlight the growing stakes around sanctions compliance. As such, your screening and monitoring systems need to be updated quickly and accurately. Missing even one flagged individual or entity, can lead to serious regulatory consequences.

Why AML teams must keep a close eye on sanctions updates.

Sanctions compliance has become a moving target in recent years, especially with the conflict in Ukraine prompting an unprecedented pace of new measures. The latest sanctions are a clear message: the UK isn’t easing off. Sky News quotes a government official saying that this week’s sanctions are focused on “restricting Putin’s war machine.” 

As a result, compliance teams must continually update their screening lists and monitoring rules to reflect the names and entities added to sanctions lists almost in real-time. Missed sanctions breaches can result in hefty penalties and reputational damage. 

The Financial Conduct Authority (FCA) has repeatedly warned firms that sanctions compliance failures will attract rigorous investigation. Just last year, the FCA handed Starling Bank a near £30m fine for a number of severe compliance lapses, particularly in sanctions screening and AML procedures.

The risk of overlooking this week’s latest sanctions.

The risks of failing to update your sanctions screening aren’t just theoretical. You could end up facilitating transactions involving sanctioned parties, exposing your firm to severe penalties and damaging its reputation. The Sky News piece highlights how the UK’s tightening of sanctions comes at a time when Putin is “procrastinating” over peace talks, meaning more sanctions are likely to come.

Non-compliance could also trigger investigations by law enforcement or intelligence agencies, which are increasingly focused on sanctions evasion. The fallout is not limited to fines; regulatory investigations can drag on for months or years and disrupt your business operations.

Practical advice for compliance with sanctions.

First off, make sure your sanctions screening tools pull data from the most up-to-date and reliable sources. With new names and entities added almost weekly, even a small delay can create significant risk exposure. Confirm that your vendor’s data feed reflects the latest UK sanctions updates immediately after they’re announced.

Communication is equally important. Share sanctions updates promptly with relevant business teams, so frontline staff are aware of new red flags or risky counterparties. Training sessions or quick briefings can help maintain awareness, especially as sanctions hit new individuals or sectors. Your customer-facing staff should know who to watch out for, not just rely on automated systems. 

Next, revisit your monitoring rules. The UK’s focus on sanctioning key industries means you may need to adjust thresholds or add new rules tied to sectors like finance or energy. Transactions involving Russian-related entities, even if not explicitly named on sanctions lists, deserve closer scrutiny. 

Finally, don’t underestimate the importance of maintaining a sanctions compliance culture in your firm. When sanctions change fast, your team’s ability to respond quickly and confidently becomes your best defence. 

What’s next? Keeping your global sanctions compliance ahead of the curve 

Given the current political climate, the UK’s new sanctions on Russia are unlikely to be the last. The ongoing conflict and stalled peace talks suggest that government pressure will intensify rather than ease. For compliance teams, that means staying proactive is more important than ever.

Sanctions compliance today involves more than blocking transactions for named individuals. They require a broad understanding of how those individuals operate, who their business partners are, and how sanctioned sectors might be affected. By staying informed and flexible, you can adapt your controls to catch emerging risks before they become regulatory problems.

In short, the latest UK sanctions are a timely reminder that sanctions compliance isn’t a static process. It’s a continuous challenge, requiring constant attention, good communication, and smart use of technology. 

Staying on top of sanctions changes like these isn’t easy – but the right tools make a big difference. If you’re looking for a faster, more accurate way to update screening lists, flag high-risk entities, and stay audit-ready, our AML compliance software is built for exactly that.

Book a demo to see how we can help keep your team a step ahead.