UK issues Guidance explaining how to comply with sanctions relating to the trade of banknotes with Belarus and Russia.

The U.K.'s OTSI and Department for Business & Trade published guidance clarifying banknote export prohibitions under the Belarus and Russia (Sanctions) (EU Exit) Regulations 2019, confirming that exporting, supplying, or making available banknotes (including GBP, EUR, and six other currencies) to persons connected with Belarus or Russia, or for use there, remains prohibited, including transport by post or on one's person. A personal use exception permits up to £10,000 per journey for a traveler's essential needs (accommodation, food, medical care, transport), but does not apply above that threshold, for commercial purposes, or for provisioning family or friends resident in either country; regulated entities remain subject to existing due diligence and mandatory reporting standards.