Doing business with someone who is subject to financial sanctions
The consolidated list of financial sanctions targets is a list of people, businesses, organisations and financial institutions you’re generally not allowed to deal with by law.
If a person or organisation is on the consolidated list it means they have had their assets frozen.
This means you must not:
- make funds or resources available to them directly (for example by buying something from them, employing them, giving them a gift or loan or repaying a loan to them)
- make funds or resources available to them indirectly (for example by paying off a loan on their behalf)
- give them access to assets you’re holding on their behalf (for example letting them withdraw money from a bank account)
- buy, sell or deal with assets that belong to them, or are held or controlled by them
You must not do anything to get around financial sanctions, or help anyone else to get around financial sanctions - directly or indirectly.
‘Resources’ can mean anything with a potential value, not just cash or investments.
In some circumstances you may be able to get a licence to deal with someone who is subject to financial sanctions.
Organisations that aren’t on the consolidated list
Even if they’re not on the consolidated list themselves, organisations are subject to financial sanctions if they’re:
- more than 50% owned by a person or organisation that’s on the consolidated list
- controlled by a person or organisation that’s on the consolidated list
Contact the Office of Financial Sanctions Implementation if you’re not sure.
Consolidated list of financial sanctions targets
The consolidated list of financial sanctions targets is available in the following formats:
Read the guide to using the consolidated list of financial sanctions targets (PDF, 162KB).
If you find out someone you’re dealing with is subject to financial sanctions
If you find out that a person or organisation you’re dealing with is subject to financial sanctions, you must immediately:
- stop dealing with them
- freeze any assets you’re holding for them
Then tell the Office of Financial Sanctions Implementation as soon as possible.