EU sanctions continue to apply in the UK until 11pm on 31 December 2020. This page will be updated if legislation or guidance changes during the transition period
The general guidance document includes information regarding:
businesses’ obligations to financial sanctions regulations
OFSI’s processes for licence applications and breach reports
frequently asked questions by specific sector
Monetary penalty guidance
The guidance on monetary penalties outlines OFSI’s processes for issuing monetary penalties for financial sanctions breaches, including:
the case assessment process
penalty calculation process
FAQ guidance for the charity sector
The FAQ guidance for the charity sector helps clarify what activity may be permitted under an OFSI licence and how to apply. It also promotes various sources of information and advice available to charities and NGOs
Financial sanctions guidance in the UK: a quick guide
OFSI has also produced a quick guide which provides key information regarding the obligations of businesses and individuals in relation to financial sanctions.
FAQ guidance for the import and export sector
The FAQ guidance for the import and export sector helps clarify how financial sanctions differ from trade sanctions, including how to apply for a licence from OFSI and DIT.
UK Sanctions guidance
OFSI has also published UK financial sanctions: general guidance. This will apply to any new sanctions regimes that the UK introduces during the transition period. This guidance does not currently apply to existing sanctions regimes which are operating under EU legislation until 31 December 2020.
OFSI has also published specific guidance in respect of the financial and investment restrictions in the Russia sanctions regime. This guidance does not currently apply and would only come into effect on 1 January 2021, or when the Russia (Sanctions) (EU Exit) Regulations 2019 come into force. This is therefore for information only at this stage.
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If you can’t find the information you need, OFSI’s helpline and email service may be able to help you. Contact details are available on OFSI’s homepage.