Along with a similar response from the EU, the US and other allies, the UK Government on 24 February 2022 substantially expanded the existing sanctions regime arising from the 2019 Regulations, and that expansion is continuing on an almost daily basis.

The UK sanctions regime contains various restrictions, but most prominent are the powers where individuals who are designated for the purposes of the 2019 Regulations as designated persons ("Designated Persons"), or entities which are linked to or controlled by Designated Persons, can have their assets frozen.

It's worth noting that financial institutions as well as individuals, sporting clubs, leagues and organisations may all fall within the ambit of the 2019 Regulations. In this note, we will describe the asset-freezing sanctions generally and will then also consider various types of potential financial transactions within the Media, Sport and Entertainment sector to see how and if they are affected.

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