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Strengthening Global Sanctions: Two Years of Enhanced Partnership

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In October 2024, representatives from the United Kingdom’s (UK) Office of Financial Sanctions Implementation (OFSI) and the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) convened in Washington, DC at our annual technical exchange, marking the second …

Changes to sanctions legislation introduced through the Sanctions (EU Exit) (Miscellaneous Amendments) (No.2) Regulations 2024 

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On 14 November 2024, the Sanctions (EU Exit) (Miscellaneous Amendments) (No.2) Regulations 2024 was laid in Parliament. This instrument introduces the following changes to sanctions legislation:  Taken together, these changes will collectively improve the ability of HM Treasury’s Office of …

OFSI launch FAQs

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On 1 May, the Office of Financial Sanctions Implementation (OFSI) introduced Frequently Asked Questions (FAQs), a new form of additional guidance aimed at providing technical support to industry partners and the public.  Our FAQs are designed to offer easily accessible …

Staying compliant with financial sanctions in the maritime sector

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Compliance with financial sanctions is critical for all businesses including those in the maritime shipping sector. For maritime businesses, including shipping companies, port operators, insurers, and financial institutions, adhering to financial sanctions regulations requires a proactive and comprehensive approach given …