Sanctions Watch | Weekly Vol. 129

Sanctions Watch Vol 129

In the latest edition of our Sanctions Watch weekly digest, we present significant updates on sanction watchlists and regulatory developments.

UK Updates Sanctions Licence to Safeguard Global Food Supply and Support Humanitarian Trade

The updated General Licence (INT/2022/2349952), issued by the UK’s Office of Financial Sanctions Implementation on 28 November 2025, aims to safeguard global food security while maintaining the effectiveness of Russia-related sanctions. The licence provides a comprehensive framework allowing the export, sale, production, and transportation of essential agricultural commodities—such as food, fertiliser, seed, feed, and reproductive materials—without breaching sanctions regulations. It permits relevant exporters, financial institutions, insurers, UK corporates, and certain designated persons to receive and transfer funds strictly for activities connected to these commodities.

By defining clear permissions and responsibilities, the licence ensures that necessary payments, insurance services, banking fees, and financial transactions can continue uninterrupted, even where designated persons may be indirectly involved. It includes safeguards requiring notifications to HM Treasury, strict record-keeping for six years, and provisions ensuring funds are not misused to bypass sanctions.

The licence also supports international trade associations like GAFTA by allowing them to receive funds for arbitration, training, and certification services linked to agricultural trade. Overall, this update ensures that humanitarian and essential food supply chains remain operational globally, preventing unintended disruptions while upholding the integrity of the UK’s sanctions framework.

UK Grants Licence Allowing Safe Continuation of Global Business Ties with Lukoil International Subsidiaries

The UK Government has issued a time-limited General Licence (INT/2025/8031092) enabling the safe continuation of legitimate global business activities involving Lukoil International GmbH and its subsidiaries. Effective from 27 November 2025 to 26 February 2026, the licence ensures that companies can continue meeting contractual and financial obligations without breaching the Russia (Sanctions) (EU Exit) Regulations 2019.

Under the licence, individuals and organisations are permitted to make or receive payments connected to existing or new contracts with Lukoil International entities. They may also exchange economic resources and conduct routine business operations. This provides stability for international partners and prevents disruption to critical global supply chains.

A key safeguard is the requirement that any funds that would benefit Lukoil International or its subsidiaries must be placed into a frozen account unless ownership control conditions change. This ensures compliance with sanctions while allowing businesses to operate smoothly.

The licence also authorises relevant UK financial institutions to process payments under these permissions, enabling secure, regulated economic activity.

Overall, this update offers reassurance to global businesses by providing clarity, continuity, and compliance, supporting economic stability while maintaining the integrity of the UK sanctions framework.

EU Moves Toward Stronger Sanctions to Protect Lithuania’s Airspace and Strengthen European Aviation Security

The European Union is preparing tougher sanctions against Belarus in a move framed as both protective and preventive, aimed at shielding Lithuania and the broader region from ongoing airspace disruptions. The decision follows repeated “hybrid attacks” involving balloons carrying smuggled cigarettes drifting into Lithuanian airspace, triggering temporary airport shutdowns and flight suspensions.

European Commission President Ursula von der Leyen announced the planned measures after meeting Lithuanian President Gitanas Nausėda, reaffirming Europe’s solidarity with Lithuania. She emphasized that the incursions—believed to be deliberately launched from Belarus—pose unacceptable risks to aviation safety.

The latest incident on Nov. 30 forced Vilnius International Airport to halt operations, adding to a growing pattern of disruptions across Europe linked to drones and unidentified objects. Lithuania has already closed its border with Belarus and is exploring further protective steps, including shifting night-time flights to Kaunas to ensure passenger safety and continuity of travel.

The incursions have affected over 320 flights, caused more than €750,000 in damages, and impacted thousands of passengers. EU leaders see the situation as an opportunity to reinforce regional security, improve surveillance systems, and show a unified response to unconventional threats targeting European infrastructure.

South Korea Imposes Sanctions on Prince Group Over Online Crimes in Southeast Asia

South Korea has taken a significant step in combating transnational online crimes by imposing sanctions on 15 individuals and 132 entities, including the Prince Group, a Southeast Asia-based multinational accused of operating large-scale online scam centers. The sanctions mark South Korea’s first unilateral action against online crimes of this magnitude, signaling its determination to address illegal activities that span across borders. Prince Group has been linked to the exploitation of trafficked workers to run scam operations that defraud victims worldwide. The group has already faced sanctions from the United States and Britain, while authorities in various Asian countries, such as Singapore, Taiwan, and Hong Kong, have taken action by seizing assets or detaining individuals associated with the network.

The sanctions come after South Korea’s cooperation with Cambodia to fight online fraud, following the repatriation of more than 60 South Korean nationals who had been detained in Cambodia on allegations of involvement in such crimes. This move underscores South Korea’s proactive approach to international collaboration in tackling the growing threat of online scams. The sanctions represent a broader effort to dismantle criminal networks exploiting vulnerable individuals for illegal activities, with a focus on safeguarding citizens both domestically and abroad.

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Sanctions Watch is a weekly recap of events and news related to sanctions around the world.