In June 2021, OFSI published a blogpost, “Reasonableness in licensing”, which set out how we assess “reasonableness” when considering licence applications under UK financial sanctions regimes. This blogpost, “Reasonableness in licensing – updated approach”, updates that guidance and applies across all UK financial sanctions …
OFSI remains committed to a transparent, fair and effective licensing process. Publishing this prioritisation framework is part of our continuing efforts to ensure that applicants understand how we assess cases and what they can do to support timely decision‑making. OFSI receives a wide variety of licence applications each year, ranging from urgent …
Today, on 17 July, OFSI has launched new online forms for submitting licence applications, reporting suspected breaches, and other key reporting such as frozen assets. This is a significant step forward in our drive to modernise and streamline our services, …
This blog provides further information on how the Office of Financial Sanctions Implementation (OFSI) makes licensing decisions. We outline both the process involved in obtaining a licence, from submitting an application to (if the licence is granted) receiving a …
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 …
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 …
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The Legal Services General Licence (INT/2022/2252300) expired on 28 April 2023 and is no longer valid.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, …
OFSI has issued a General Licence to allow the delivery of humanitarian assistance in Ukraine