3VB’s Finance Column: Victor Steinmetz writes for Practical Law on UK sanctions and corporate group structures
The latest article in 3VB’s monthly Finance Column for Practical Law by Victor Steinmetz examines the application of UK sanctions to corporate group structures where an entity may be owned or controlled by a designated person. The article considers the statutory framework governing ownership and control under the Russia (Sanctions) (EU Exit) Regulations 2019, the practical challenges of assessing indirect control and the potential relevance of EU guidance following the Court of Appeal’s decision in Mints v PJSC National Bank Trust. It also discusses the operation of the section 44 defence under the Sanctions and Anti-Money Laundering Act 2018 and outlines practical steps businesses can take to mitigate sanctions risk.
Victor has a broad practice covering general commercial litigation, banking and finance, civil fraud and international arbitration. A large part of his work involves complex cross-border disputes and he often advises on conflict of laws issues. He is recognised as a leading junior for Banking & Finance and Commercial Litigation in the Legal 500 2026 guide.
Read the full article here: Applying UK Sanctions to group structures: ownership, control, and the section 44 SAMLA defence.
This article was first published by Practical Law in June 2026.
