Guidance

Financial sanctions general guidance

General guidance for UK financial sanctions

From:
Office of Financial Sanctions Implementation
Published
13 February 2024
Last updated
19 December 2024 — See all updates

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UK financial sanctions general guidance

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General guidance for UK financial sanctions covering:

  • Overview of financial sanctions
  • Scope of financial sanctions
  • Financial sanctions restrictions
  • Ownership and control
  • Reporting obligations
  • Exceptions and licensing
  • Compliance and enforcement
  • Challenging designations

Updates to this page

Published 13 February 2024
Last updated 19 December 2024 + show all updates

  1. Section 1.2 table updated to include OTSI.

  2. Section 6.9 General licences updated

  3. UK financial sanctions general guidance updated

  4. Guidance amended to include reference for inclusion of designated persons subject to the reporting requirements in Regulation 38A of the Belarus Regulations and monetary penalties for breaches of reporting obligations.

  5. A correction has been made in relation to section 4.1 Ownership and control. Specifically, text in the second example has been corrected to reflect the exercise of control between Person A and Person B.

  6. Definitions for extraordinary situations and extraordinary expenses in OFSI’s approach to licensing grounds section amended.

  7. First published.

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