NCA Seeks to Forfeit $357,000 from Sanctioned “Russian-Cypriot” Who is Contesting the Action

A 30-year-old man sanctioned in the UK for alleged ties to the Russian government will fight a civil forfeiture attempt brought by UK law enforcement.

THE NATIONAL CRIME AGENCY (NCA)

• Has applied to Westminster Magistrates' Court for a civil forfeiture order to permanently confiscate approximately $357,000 in funds held by SERGEI SERGEEVICH TREGUB [Tregub] under the Proceeds of Crime Act 2002.
• Tregub, who holds dual Russian Cypriot nationality (DOB 08/12/1995), intends to contest the application.
• The NCA's civil forfeiture action is distinct from the sanctions designation itself and relies on proceeds of crime powers.
• Reporting indicates the funds in question are connected to the broader enforcement context around Russian-linked financial activity.

TREGUB  

• Was designated on the UK sanctions list on 6 December 2023 (UK Sanctions List Ref: RUS2055)
• With an asset freeze and trust services prohibition.

THE OFFICIAL UK STATEMENT OF REASONS STATES

• He is an “involved person” under the Russia (Sanctions) (EU Exit) Regulations 2019
• Because he “is associated with a person who is involved in obtaining a benefit from or supporting the Government of Russia,
• Namely Sergei Vadimovich Tregub” — his father.

THE FATHER

• Has separately been linked in open-source reporting to corruption schemes involving PJSC Gazprom and its subsidiaries,
• As well as the formation of corrupt sources of income for the Russian government.

This case forms part of the UK's ongoing use of both sanctions designations and criminal/civil recovery tools against individuals with alleged ties to the Russian state or sanctioned networks.

The UK sanctions designation against Sergei Sergeevich Tregub (UK Sanctions List Ref: RUS2055)

The UK sanctions designation against Sergei Sergeevich Tregub (UK Sanctions List Ref: RUS2055)

• Imposes two core sets of restrictions under the Russia (Sanctions) (EU Exit) Regulations 2019.
• These have been in force since his designation on 6 December 2023.

1. Asset Freeze (the main financial sanction)

This is the standard prohibition that applies to all designated persons.

It prohibits:

• Dealing with any funds or economic resources owned, held or controlled by Tregub (where you know or have reasonable cause to suspect this is the case).
• Making funds available, directly or indirectly, to or for the benefit of Tregub.
• Making economic resources available, directly or indirectly, to or for the benefit of Tregub, where you know or have reasonable cause to suspect that the resources will or may be used to obtain funds, goods or services.

Practical effect:

• UK banks and financial institutions must immediately freeze any accounts or assets linked to him and report to the Office of Financial Sanctions Implementation (OFSI).
• No UK person (or person in the UK) can make payments, transfers, or provide anything of economic value to him or to entities he owns or controls, without an OFSI licence.
• The prohibition has extra-territorial effect for UK persons.

2. Trust Services Prohibition (Regulation 18C – imposed 6 December 2023)

This is an additional restriction specifically noted in his designation.

• It prohibits any person from providing “trust services” to or for the benefit of Sergei Sergeevich Tregub.

“Trust services” are defined as:

• Creating a trust or similar arrangement
• Providing a registered office, business address, correspondence address or administrative address for a trust or similar arrangement
• Operating or managing a trust or similar arrangement
• Acting (or arranging for another person to act) as trustee of a trust or similar arrangement
• Acting as a nominee shareholder (in relevant contexts)

“For the benefit of”

• Includes situations where he is (or could reasonably be expected to be) a beneficiary or potential beneficiary, or could obtain significant financial benefit.

Practical effect:

• UK lawyers, accountants, company formation agents, trust service providers, etc. cannot set up or administer trusts, companies, or similar structures for his benefit.
• Existing arrangements generally need to be wound down unless an OFSI licence or exception applies.

Other consequences linked to the designation

These are not always listed as “financial sanctions” in every notice but flow from the designation:

• UK entry ban (travel/immigration restriction): As a designated person, he is generally refused entry to or leave to remain in the UK.
• Director disqualification: He is disqualified from acting as a director or being involved in the management of UK companies (under the Sanctions and Anti-Money Laundering Act 2018). This has been recorded as effective from around April 2025.

Licensing and compliance

• OFSI can issue licences in limited circumstances (e.g. basic needs of the designated person, legal fees, or other specified grounds). General licences may also apply in narrow cases. UK persons must comply immediately and report any frozen assets.
• These restrictions remain in force as of July 2026.

Sources

• Global Investigations Review, “NCA seeks $357,000 from sanctioned Russian-Cypriot linked to Gazprom” (Just Sanctions section) — https://globalinvestigationsreview.com/just-sanctions/article/nca-seeks-357000-sanctioned-russian-cypriot-linked-gazprom (Lead sentence and core details; some content may be behind login/subscription.)
• Lexology (GIR content), “NCA seeks $357,000 from sanctioned Russian-Cypriot linked to Gazprom” — https://www.lexology.com/pro/content/nca-seeks-357-000-from-sanctioned-russian-cypriot-linked-to-gazprom (Updated 07 July 2026; includes additional context on nationality and court.)
• Global Sanctions, “National Crime Agency applies to confiscate funds of Russia sanctioned person” — https://globalsanctions.com/2026/07/national-crime-agency-applies-to-confiscate-funds-of-russia-sanctioned-person/ (Published 9 July 2026; confirms name, amount, and court.)
• Isle of Man Government notice (reproducing UK sanctions data), “Financial Sanctions: Russia 18.12.23” — https://www.gov.im/news/2023/dec/18/financial-sanctions-russia-181223/ (Contains exact UK Statement of Reasons for Sergei Sergeevich TREGUB.)
• Official UK sanctions notice PDF (18 December 2023 update) — https://assets.publishing.service.gov.uk/media/658055a283ba38000de1b79b/Notice_Russia_181223.pdf (Full entry and Statement of Reasons for RUS2055.)
• OpenSanctions profile for Sergei Sergeevich Tregub — https://www.opensanctions.org/entities/NK-AjVJGEJZNjaE6VWNfYEA57/ (Aggregates designation data and links to primary sources.)
• OpenSanctions profile for father Sergei Vadimovich Tregub (for context on family link and Gazprom references in open sources) — https://www.opensanctions.org/entities/NK-gQnRodx4GVHYgzBWA84TDG/
• UK Financial Sanctions Notice – Russia (6 December 2023) containing his designation: https://assets.publishing.service.gov.uk/media/6570414f9462260721c56992/Notice_Russia_061223.pdf
• UK Government statutory guidance on Russia sanctions (asset freeze and trust services sections): https://www.gov.uk/government/publications/russia-sanctions-guidance/russia-sanctions-guidance
• Legislation: Russia (Sanctions) (EU Exit) Regulations 2019 (as amended), particularly Regulations 11–15 (asset freeze) and 18C (trust services): https://www.legislation.gov.uk/uksi/2019/855/contents

All information above is drawn directly from these publicly referenced reports and official sanctions notices as of July 2026. The full GIR article appears to contain additional reporting not fully reproduced in open previews. Readers should consult the primary sources directly for complete context, as some platforms require subscriptions.