On 12 September 2024, His Majesty’s Government (HMG) published the Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 (Regulations), introducing new civil enforcement powers
Continue Reading UK Announces New OTSI Civil Enforcement Powers on Trade Sanctions
On 10 November, the UK’s Office of Financial Sanctions Implementation (OFSI) published its annual review for the period April 2021 to August 2022, with a
Continue Reading OFSI’s Annual Review Highlights Effect of Sanctions on Russia
The United Kingdom and United States announced in a joint statement on 17 October a new strategy to cooperate and collaborate further on economic sanctions
Continue Reading UK and U.S. Announce ‘Enhanced Partnership’ on Economic Sanctions Implementation, Enforcement
On 30 September the UK announced a series of significant additional sanctions in response to Russia’s illegal annexations in Ukraine following internationally condemned sham referendums.
Continue Reading Incoming UK Sanctions on Professional Services
Co-authored by London Associate Tina Kang.
The UK Office of Financial Sanctions Implementation (OFSI) announced on 27 September that it imposed a £30,000 penalty on
Continue Reading Wined and Fined: OFSI Imposes Financial Penalty on UK Company for Publicising Sanctioned Crimean Winery
On 12 July 2022, the UK’s Office of Financial Sanctions Implementation (OFSI) and various other UK government agencies issued a red alert, in conjunction
Continue Reading UK Law Enforcement Identify Common Sanctions Evasion Tactics and Use of UK-Based ‘Enablers’
From 19 July 2022, it is a violation of UK financial sanctions for any person who knows or has reasonable cause to suspect that
Continue Reading UK Prohibits Certain Investment in Russia
The UK Office of Financial Sanctions Implementation (OFSI) announced on 28 June that it imposed a £15,000 penalty on UK company Tracerco Limited for breaching
Continue Reading OFSI Fines UK Company for Financial Sanctions Breach
On 9 May, the UK government announced it was targeting Russia and Belarus with a 35% increase in import tariffs to be imposed on precious
Continue Reading UPDATE: UK Announces Expansion of Trade Sanctions Against Russia and Belarus
As anticipated, the Economic Crime Bill was passed and became the Economic Crime (Transparency and Enforcement) Act 2022 on 14 March 2022. Overseas entities, their
Continue Reading UK Russian Sanctions and Economic Crime Update – A More Forceful Approach