Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Sanction definition

What does Sanction mean? A sanction is the court’s consequence for a party’s failure to comply with a rule, practice direction or order. It is a descriptive procedural term used across England & Wales, Scotland, Northern Ireland and Ireland; powers derive from each jurisdiction’s rules and case law. Sanctions include: strike‑out or dismissal of a claim or defence; debarring a party from evidence or participation; the automatic effect of an unless order; adverse or wasted costs; and, for serious breaches, contempt of court (fines or committal). In England & Wales, relief from sanctions is under CPR r 3.9 and Denton, focussing on seriousness/significance, reasons, and all...

UK Russia sanctions for finance and restructuring lawyers: asset freezes, loan and trade restrictions, correspondent banking, licences, reporting, and practical issues for lending, restructuring and insolvency

Published by a LexisNexis Banking & Finance expert

Practice notes

In response to the conflict in Ukraine, multiple governments, operating under their respective sanctions frameworks, have introduced sanctions and export controls against targets in Russia and Belarus.

This Practice Note acts as a starting resource for banking lawyers considering how UK sanctions since March 2022 affect finance transactions. This Practice Note:

offers introductory detail on the various types of sanctions—see: What is meant by sanctions?
summarises, or signposts how to locate, further measures announced or in force in the UK (and elsewhere)—see: How do I find out what UK, US and EU sanctions there are against Russia and Belarus?
identifies where to find guidance on the impact on finance transactions—see: What steps should financial institutions be taking following the additional measures?
highlights, at a high level, steps to take and issues to consider for both existing and new lending transactions as a result of the new sanctions—see: How might the new measures impact loan transactions?
sets out implications for restructuring and insolvency lawyers—see: How might the new measures impact restructuring and insolvency (R&I) lawyers?

What is meant by sanctions?

Sanctions are non-permanent restrictions or prohibitions...

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Web page updated on 29/05/2026

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