UK Lifts Sanctions Against Russian Bank, Turkish Firm

The U.K. on March 7 removed Russian bank Rosbank PJSC and Turkish energy firm Active Denizcilik Ve Gemi Isletmeciligi Anonim Sirketi from its Russia sanctions list. Rosbank was sanctioned in 2023 for operating in Russia’s financial services sector, and Active Denizcilik was sanctioned last year for doing business in Russia’s energy sector. The U.K.’s Office of Financial Sanctions Implementation didn’t give a reason for their removals.

OFSI also updated the sanctions entry for Tinkoff Bank to reflect its name change to T-Bank. The Moscow-based bank was sanctioned in 2023 for operating in Russia’s financial sector.