On 26 October 2023, the High Court of Justice, Administrative Court, delivered its judgment rejecting a legal challenge by Mikhail Fridman against OFSI’s decision to refuse to grant certain licence requests. OFSI has been at the front and centre of …
October 2023 marked one year since the launch of the OFAC-OFSI Enhanced Partnership, an ongoing commitment from two of the world’s leading financial sanctions implementation authorities to deepen their collaboration. Over the last year, the UK Office of Financial Sanctions …
The critical role that financial sanctions have played in the international coalition’s response to Russia’s invasion of Ukraine has further demonstrated what a crucially important tool they are for the UK to protect its national security and financial integrity. As …
In response to the illegal invasion of Ukraine, the UK introduced the largest and most severe package of economic sanctions that Russia has ever faced. As a result, the Office of Financial Sanctions Implementation (OFSI) continues to experience unprecedented high …
The trust services sanctions came into effect on 16 December 2022. These are financial sanctions, for which the Office of Financial Sanctions Implementation (OFSI) is responsible, while the Department for Business and Trade is responsible for professional and business services …
OFSI has received unprecedented numbers of licence applications to permit prohibited transactions or activities owing to more sweeping and far-reaching sanctions imposed relating to Russia and Belarus. Many of these applications involve UK persons who are owed money by Russian …
The Legal Services General Licence (INT/2022/2252300) expired on 28 April 2023 and is no longer valid. All reported use of General Licence INT/2022/2252300 should be sent to OFSI by 5 May 2023. OFSI has reviewed the reported use of …
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 …
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