Economic sanctions are the sharp edge of modern diplomacy. In a world marked by geopolitical fracture and strategic competition, they function as tools of coercion and containment, targeting adversaries without the deployment of armed force. But not all sanctions are created or enforced equally. In the UK, financial sanctions and trade sanctions operate within distinct legal and institutional frameworks. Financial sanctions, enforced by the Office of Financial Sanctions Imple

The Office of Financial Sanctions Implementation (OFSI) has published its Annual Review 2024–25 , outlining a year of significant progress in strengthening the UK’s financial sanctions regime amid escalating global tensions. The release coincides with the announcement by the Chancellor and Foreign Secretary of new sanctions against Russia’s largest oil companies, further tightening pressure on Kremlin revenues and global enablers of its illegal war on Ukraine. OFSI’s report s

The UK has imposed its toughest sanctions yet on Russia, directly targeting its energy sector and the global enablers sustaining President Vladimir Putin’s war in Ukraine. Announced jointly by the Foreign, Commonwealth & Development Office and HM Treasury, the sweeping package of 90 new sanctions cuts deep into the Kremlin’s oil revenues, striking at major producers Rosneft and Lukoil – which together export more than three million barrels per day. Rosneft alone accounts for

The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, has imposed a monetary penalty of £152,750 on Colorcon...

OFSI has published a disclosure report against Vanquis Bank Limited for breaches of the Counter-Terrorism Sanctions EU Exit Regulations...

The UK, in coordination with the European Union, has introduced a reduced Oil Price Cap on seaborne Russian crude oil, lowering the...

The Office of Financial Sanctions Implementation (OFSI) has fined UK company Markom Management Ltd (MML) £300,000 for breaching sanctions...

The UK’s Office of Financial Sanctions Implementation (OFSI) has launched a significant consultation seeking stakeholder input on...

The Office of Financial Sanctions Implementation (OFSI) has published its Cryptoassets Threat Assessment (July 2025) , providing a...

The UK government is ramping up economic pressure on Russia with a decisive new measure directly targeting the Kremlin’s vital oil...

The Office of Financial Sanctions Implementation (OFSI) has today launched a suite of new online forms designed to make reporting and...

On 9 July 2025, the Office of Financial Sanctions Implementation (OFSI) published an update to its General Guidance, introducing a new...