Tasha Benkhadra discusses the recent High Court ruling, in Vneshprombank LLC v. Georgy Ivanovich Bedzhamov, which highlights the need for clarity on the matter of asset freezing sanctions levied by the UK.
The article explores the interpretation of ‘reasonable cause to suspect’ for asset freezes; criticism of the broad applications of asset freezes by banks highlighted in Judge Sara Cockerill’s ruling and the implications on the OFSI to provide clearer guidelines.
This article was published in Law360 on the 24th of May.