Russia notice varies Cherkasova entry; four sanctions stand

The Foreign, Commonwealth and Development Office published a Russia sanctions noticeGOV dated 15 October 2026 that varies a single existing designationPublishing: Nadia Narimanovna CherkasovaPublishing (Unique ID RUS1636Publishing, OFSI group ID 15580). She remains subject to an asset freeze, a travel ban, trust services sanctions and a director disqualification sanction.Publishing The notice records the trust services sanctions as imposed on 21 March 2023 and the director disqualification sanction as imposed on 9 April 2025, and gives her last-updated date as 15 October 2026.

The substance of the variation is in the UK statement of reasons. The Secretary of State considers there are reasonable grounds to suspect Cherkasova is an "involved person"Publishing because she has been, and is, involved in obtaining a benefit from or supporting the Government of Russia in two ways: working as a director, manager or equivalent of an entity carrying on business in a sector of strategic significance, namely Bank Otkritie Financial Corporation PJSC in the Russian financial services sector; and working as a director, manager or equivalent of a Government of Russia-affiliated entity, namely the same bank.Publishing The varied wording, with deletions in strikethrough and additions underlined, adjusts the tenses of the underlying conduct description. Her recorded position is member of the Otkritie management board; she was born on 11 December 1971 in Vladimir, Russia, and was first designated on 26 September 2022.

For screening purposes the operative fields are the unique ID RUS1636, the name including the Cyrillic rendering (Надия Наримановна ЧЕРКАСОВА), the date of birth, and the four sanctions imposed. Firms should update the statement of reasons held against this entry and keep the freeze, travel, trust services and director disqualification restrictions in place; the notice adds no new designated person and removes nonePublishing.

The variation sits under the Russia (Sanctions) (EU Exit) Regulations 2019.Publishing Regulation 6 treats working as a director, manager or equivalent of an entity carrying on business in a sector of strategic significance, or of a Government of Russia-affiliated entity, as involvement in obtaining a benefit from or supporting the Government of Russia, and lists the Russian financial services sector among the sectors of strategic significance. The asset freeze in regulation 11 prohibits dealing with funds or economic resources owned, held or controlled by a designated person where there is knowledge or reasonable cause to suspect, subject to exceptions and licences; regulation 18C prohibits providing trust services to or for the benefit of a designated person; and regulation 19B makes a person designated for that purpose subject to director disqualification sanctions for the purposes of section 11A of the Company Directors Disqualification Act 1986.

Legal basis: the FCDO Sanctions Notice, Russia, 15 October 2026 varying the Cherkasova (RUS1636) entry, under the Russia (Sanctions) (EU Exit) Regulations 2019, regulations 6, 11, 18C and 19B.