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Guidance

Complying with sanctions relating to banknotes

Published 3 August 2026

© Crown copyright 2026

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This publication is available at https://www.gov.uk/government/publications/complying-with-sanctions-relating-to-banknotes/complying-with-sanctions-relating-to-banknotes

Scope

Sanctions regulations apply to:  

  • any individual, business or organisation undertaking activities anywhere in the UK (including the territorial sea) 

  • any business or organisation incorporated or constituted under the law of any part of the UK undertaking activities anywhere in the world 

  • any UK national, wherever they are in the world 

Accordingly, the prohibitions and requirements imposed by the regulations apply to all companies established in any part of the UK, and they also apply to branches of UK companies operating overseas. 

For full details see section 21 of the Sanctions and Anti-Money Laundering Act 2018.

Banknotes within scope of these prohibitions are: 

  • Czech koruna (CZK) 

  • Danish krone (DKK) 

  • Euro (EUR) 

  • Hungarian forint (HUF) 

  • Polish zloty (PLN) 

  • Pound sterling (GBP) 

  • Romanian leu (RON) 

  • Swedish krona (SEK)

Prohibitions

Belarus

The Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 (‘the Belarus Regulations’) prohibit: 

  • exporting banknotes to, or for use in, Belarus 

  • supplying or delivering banknotes, directly or indirectly, to a person connected with Belarus 

  • making banknotes available, directly or indirectly, to a person connected with Belarus, or for use in Belarus 

A person connected with Belarus is defined as: 

  • an individual who is, or an association or combination of persons who are, ordinarily resident or located in Belarus 

  • a person, other than an individual who is incorporated or constituted under the law of Belarus, or domiciled in Belarus 

These sanctions came into force on 9 July 2023. 

Read further guidance on sanctions imposed by the Belarus Regulations

Russia

The Russia (Sanctions) (EU Exit) Regulations 2019 (‘the Russia Regulations’), prohibit: 

  • exporting banknotes to, or for use in, Russia 

  • supplying or delivering banknotes, directly or indirectly, to a person connected with Russia 

  • making banknotes available, directly or indirectly, to a person connected with Russia, or for use in Russia 

A person connected with Russia is defined as: 

  • an individual who is, or an association or combination of persons who are, ordinarily resident or located in Russia 

  • a person, other than an individual who is incorporated or constituted under the law of Russia, or domiciled in Russia 

These sanctions came into force on 15 July 2022. 

Read further guidance on sanctions imposed by the Russia Regulations 

Sanctioned activity under the Belarus Regulations and the Russia Regulations includes sending banknotes to Belarus or Russia by post and taking banknotes to Belarus or Russia on your person or in your luggage. 

You are prohibited from providing banknotes to persons connected with Belarus or Russia, and from providing banknotes to anyone if they are for use in Belarus or Russia, including by facilitating a cash withdrawal from a bank account or exchanging currency.

When the personal use exception applies

There is an exception to the prohibitions where the making available, supply, export or delivery of banknotes is necessary for the personal use of a person travelling to Belarus or Russia, or members of their immediate families travelling with them, up to the value of £10,000.  

The exception only applies if the banknotes are intended to meet the essential needs of the persons travelling, or the members of their immediate families travelling with them, during their travel to, and stay in, Belarus or Russia.  

Examples of essential needs during a person’s travel and stay include: 

  • Accommodation 

  • Food and drink 

  • Medical services 

  • Transport 

The exception applies to single journeys to Belarus and Russia. Therefore, the £10,000 limit applies to each journey taken to Belarus or Russia. The exception does not apply at all where the value of banknotes involved exceeds £10,000 for one journey.

When the personal use exception does not apply

You must not use banknotes for commercial, investment or professional purposes.  

You cannot bring banknotes to family and friends who live in Belarus and Russia, because this would not meet the criteria of being ‘necessary for the personal use of natural persons travelling to Belarus or Russia, or members of their immediate families travelling with them’.  

The Office of Trade Sanctions Implementation does not prescribe the level or type of due diligence to be undertaken to ensure compliance with trade sanctions. Businesses should satisfy themselves that their actions comply with trade sanctions. Businesses in the regulated sector, such as financial institutions and money service businesses, should meet regulatory and professional standards.

Contact DBT

If you have any questions about this guidance, contact the Office of Trade Sanctions Implementation using the enquiry form. 

Report a suspected breach of trade sanctions

 Financial services providers and money service businesses are subject to reporting obligations. For details read the guidance on reporting obligations for trade sanctions.

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