The UK’s Office of Financial Sanctions Implementation (OFSI) has issued guidance on when payments can be made to personal staff of designated persons (DPs).[1]
Continue Reading OFSI Issues Licensing Guidance for Payments to Personal Staff of Designated Persons
On 31 August 2023 the UK’s Office of Financial Sanctions Implementation (OFSI) issued a “Disclosure” against Wise Payments Limited, a UK-registered company, regulated by the
Continue Reading No Breach Too Small: OFSI Reports First Breach of UK’s Russian Sanctions Regulations
HM Treasury announced 26 July that the UK’s Office of Financial Sanctions Implementation (OFSI) has amended Section 6.12, Refusal of a licence, of its UK
Continue Reading OFSI Updates Guidance on Refusing Licences
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
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’
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 15 June 2022, the UK Office of Financial Sanctions Implementation (OFSI) implemented important changes to its enforcement powers and updated its “Monetary Penalty” guidance.
Continue Reading New Era in UK Sanctions Enforcement: Introduction of Strict Liability Standard and OFSI Guidance Update
