The UK and Price Cap Coalition (G7 + Australia) partners have agreed tough and comprehensive sanctions on Russia’s most lucrative export: crude oil and refined oil products. We are collectively banning the import of Russian oil and oil products into …
The UK has introduced the largest and most severe package of economic sanctions that Russia has ever faced. The UK government, along with international allies, is working strenuously to reduce Putin’s ability to wage war. As part of this package, …
As Directors of two of the world’s leading financial sanctions implementation authorities, we are committed to our close working relationship. As a testament to this ongoing commitment, on Thursday, 13 October, OFAC and OFSI concluded a multi-day technical exchange in …
What does "reasonableness" mean in licensing applications? Find out what to consider when applying for a licence from OFSI
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About OFSI
OFSI helps ensure financial sanctions are properly understood, implemented and enforced in the United Kingdom. This includes the Oil Price Cap on Russian oil.