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The Legal Services General Licence (INT/2022/2252300) expired on 28 April 2023 and is no longer valid.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 Government remains committed to punishing Russia’s illegal invasion of Ukraine, cutting off funding streams to the Putin regime and stopping those close to the regime from benefitting from western services. As announced last year, the UK government has …
The UK and our allies have introduced some of the broadest and most severe sanctions against Russia that any country has ever faced. In alignment with our coalition partners, we have banned the import of Russian oil and oil products …
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 …
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OFSI has issued a General Licence to allow the delivery of humanitarian assistance in Ukraine
OFSI's director Giles Thomson talks about new powers which come into force on 15 June and our approach to enforcement