RUSSIA SANCTIONS - OFSI issues £300k monetary penalty for UK sanctions breaches: On July 31, 2025, OFSI announced that it had issued a £300,000 penalty against Markom Management Limited (“MML”) for its instruction of a...more
On 21 July 2025, the UK Office for Financial Sanctions Implementation (OFSI) published its latest sector-specific threat assessment focusing on UK crypto-asset firms’ exposure to financial sanctions breaches, covering...more
I. U.S. SANCTIONS - U.S. Treasury Department Sanctions Iranian Shipping Network that Transports Oil and Petroleum Products from Russia: On July 30, the U.S. Department of the Treasury’s Office of Foreign Assets Control...more
On 22 July 2025, the UK’s Office of Financial Sanctions Implementation (OFSI) launched a major consultation proposing wide-ranging enhancements to its civil enforcement framework (the Consultation). The Consultation is open...more
On 22 July 2025, the UK’s Office of Financial Sanctions Implementation (“OFSI”) published a consultation paper proposing significant reforms to its civil enforcement processes. The proposals aim to enhance the effectiveness,...more
On 18 June 2025, the UK Office for Financial Sanctions Implementation (OFSI) released a Threat Assessment (the Assessment) targeting Art Market Participants (AMPs) and High-Value Dealers (HVDs). This follows new rules from 14...more
In this weekly update, we summarise the most notable updates in the UK sanctions world. If you have any questions in respect of any of the developments set out below, please do not hesitate to contact a member of our London...more
In this weekly update, we summarise the most notable updates in the UK sanctions world. Russia Sanctions UK government adds 10 new entries and specifies 20 ships under the Russia regime: On June 17, 2025, the UK government...more
On 15 May 2025, the UK Government published the conclusions of its cross-government review of UK sanctions implementation and enforcement (the Review)....more
The EU and UK sanctions regimes on Russia continue to expand as both jurisdictions seek to increase pressure on President Putin. As with previous recent packages, Russia’s military, energy and financial sectors have again...more
I. U.S. Sanctions - President Trump Threatens Sanctions on Russia Following Drone Attack on Ukraine: On May 28, Bloomberg reported that President Trump said he was “‘absolutely’ considering new sanctions against Russia as...more
On 8 May 2025, the United Kingdom’s Office of Financial Sanctions Implementation (OFSI) of HM Treasury published a penalty notice regarding a breach of financial sanctions by a UK registered company—Svarog Shipping & Trading...more
In this weekly update, we summarise the most notable updates in the UK sanctions world. RUSSIA SANCTIONS - UK Government amends one entry on UK sanctions list under the Russia regime: On May 23, 2025, the UK...more
In this weekly update, we summarise the most notable updates in the UK sanctions world...more
The Offence and Penalty - On 8 May 2025, the UK’s Office of Financial Sanctions Implementation (OFSI) published its 11 April 2025 notice of its first-ever monetary penalty for an information offence relating to financial...more
The UK’s sanctions regimes remain dynamic as they continue to respond to geopolitical changes. In recent weeks, the UK has enhanced its Russia sanctions, despite the uncertain direction of the international sanctions on...more
In this weekly update, we summarise the most notable updates in the UK sanctions world. RUSSIA SANCTIONS - UK Government amends one entry on UK sanctions list under the Russia regime: On May 1, 2025, the UK Government...more
The United Kingdom’s Office of Financial Sanctions Implementation (OFSI) has published a report detailing suspected breaches of UK financial sanctions involving UK property and related services firms since February 2022 and...more
I. U.S. SANCTIONS - White House Reportedly Considering Lifting Sanctions on Russian Energy Assets: On April 23, Politico reported that the White House is debating lifting sanctions on Russia’s Nord Stream 2 natural gas...more
In its first-ever threat assessment of the UK legal sector, the UK’s Office of Financial Sanctions Implementation (OFSI) has raised red flags with regards to suspected sanctions breaches involving UK legal services providers...more
In this weekly update, we summarise the most notable updates in the UK sanctions world....more
I. US SANCTIONS - U.S. Agrees to Help Lift International Sanctions on Certain Russian Exports: On March 25, Reuters reported that Washington has agreed “to push to lift some sanctions against Moscow.” This consideration...more