44.—(1) 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—
(a)the export of energy-related goods,
(b)the direct or indirect supply or delivery of energy-related goods,
(c)directly or indirectly making energy-related goods available to a person, or
(d)the direct or indirect provision of technical assistance relating to energy-related goods.
(2) 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).
[F2(3) 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—
(a)the export of energy related goods to, or for use in, Russia;
(b)the direct or indirect supply or delivery of energy related goods to a place in Russia;
(c)directly or indirectly making energy related goods available—
(i)to a person connected with Russia; or
(ii)for use in Russia;
(d)the direct or indirect provision of technical assistance relating to energy related goods—
(i)to a person connected with Russia, or
(ii)for use in Russia.]
(4) Paragraphs (1) to (3) are subject to Part 7 (Exceptions and licences).
(5) A person who contravenes a prohibition in any of paragraphs (1) to (3) commits an offence, but—
(a)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;
(b)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.
Textual Amendments
F1Words 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)
F2Reg. 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)
Commencement Information
I1Reg. 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)