The Office of Financial Sanctions Implementation (OFSI) has issued a new General Licence INT/2024/4919848 under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019 on the sale, divestment and transfer of financial instruments held at the National Settlement Depository (NSD) and the payment of safe keeping fees to the NSD. The General Licence expires on 13 August 2024.

The Office of Financial Sanctions Implementation (OFSI) has issued the Government Debt Payments General Licence INT/2024/5294388. It allows people to make and facilitate payments in respect of government debt in the UK where either the legal holder or the direct or indirect recipient or beneficiary of that payment is a UK prohibited person and the payments are held in frozen accounts. This Licence applies to multiple regimes.

The Office of Financial Sanctions Implementation (OFSI) has published a disclosure notice reporting breaches of the Counter Terrorism (International Sanctions) (EU Exit) Regulations 2019, S.I. 2019/573 by multiple charities. The notice, issued under section 149(3) of the Policing and Crime Act 2017, specifically addresses violations of Regulation 36(6) of the counter-terrorism sanctions regime. The full report details the specific charities involved and the nature of their breaches.

Office of Financial Sanctions Implementation (OFSI) has issued its first disclosure notice under section 149(3) of the Policing and Crime Act 2017 against Vanquis Bank Limited for breaching the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019. The breaches occurred when the bank failed to restrict a designated person's account for eight days following designation, allowing a £200 cash withdrawal and an £8.99 transaction. OFSI assessed the breach as moderately severe, citing operational resilience failures in sanctions screening processes, though not serious enough to warrant a monetary penalty. The case establishes precedent for OFSI's use of disclosure notices in counter-terrorism sanctions enforcement and emphasises requirements for rapid account restriction following designation.

The Office of Financial Sanctions Implementation (OFSI) issued four new General Licences under the Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019. General Licence INT/2025/7363752 permits activities associated with the Shah Deniz Project, facilitating continued operations within the scope of sanctioned entities. General Licence INT/2025/7345264 allows for the wind-down of transactions involving UK-based firms, enabling them to disengage from sanctioned relationships in a controlled manner. General Licence INT/2025/7345664 supports the wind-down of global transactions involving Iranian banks, while General Licence INT/2025/7345464 specifically addresses the wind-down of transactions involving UK-based Iranian banks. OFSI has also added FAQ 168 to clarify that all specific licences issued by HM Treasury under the UN regime prior to 2015 ceased to have effect upon the designated person being delisted, and that new OFSI licence applications should be made where needed.

The Office of Financial Sanctions Implementation (OFSI) has issued General Licence INT/2025/5810196 under the Syria (Sanctions) (EU Exit) Regulations 2019, SI 2019/792. This licence authorises payments to be made in respect of relevant humanitarian assistance activities in Syria. The issuance of this general licence represents a significant development in the UK's approach to facilitating humanitarian aid in sanctioned territories, allowing for greater flexibility in financial transactions related to approved humanitarian efforts in Syria.

The Office of Financial Sanctions Implementation (OFSI) has issued General Licence INT/2026/10050568 under 26 UK autonomous sanctions regulations. The licence permits designated persons, or persons acting on their behalf, to make ground rent, service charge and certain late payment fee payments for eligible leasehold properties in England and Wales. Payments may be made to a UK bank account held by a landlord, managing agent or person acting on the landlord’s behalf. The licence applies where the designated person became a party to the lease before becoming designated. Late payment fees are limited to interest or other default charges for ground rent or service charges that fell due before 12 October 2026 and exclude legal, enforcement, collection and other ancillary costs. Reporting and record-keeping requirements apply. The licence took effect on 12 October 2026 and expires at 11.59 pm on 11 October 2027.

The Office of Financial Sanctions Implementation (OFSI) has issued General Licence INT/2025/8202932 under regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019, permitting persons to wind down from transactions involving specified Russian oil companies. The licence covers PJSC RUSSNEFT, PJSC TATNEFT, LLC RUSNEFTEGAZ GROUP, LLC NNK-OIL and their subsidiaries, allowing the closing out of positions and any activity reasonably necessary to effect wind-down. The licence exempts such activities from prohibitions in regulations 11 to 15 of the Russia Regulations, subject to record-keeping requirements mandating accurate records be maintained for a minimum of six years. The licence takes effect from 18 December 2025 and expires at 23:59 on 31 January 2026, with HM Treasury retaining powers to vary, revoke or suspend the licence at any time.

The Office of Financial Sanctions Implementation (OFSI) has updated three general licences—INT/2022/2300292, INT/2023/3179120, and INT/2022/2104808—by removing references to frozen UK bank accounts from permissions to clarify that payments by designated persons are not limited to frozen funds. The revisions include updated reporting conditions that now require submissions within 30 days of the end of a yearly quarter. Additionally, two of the licences have been amended to incorporate the Global Irregular Migration and Trafficking in Persons Sanctions Regulations 2025, SI 2025/902 into their schedules of UK autonomous sanctions regulations. Licence INT/2023/3179120 further updates the definition of ‘person’ to exclude UK designated persons, while licence INT/2022/2104808 now permits charges related to payments made under the Required Payments Exception or Asset-Freeze Exception. The OFSI has also issued General Licence INT/2025/7328184 allowing revenue authorities to make permitted payments to a UK Designated Person’s (DP's) frozen bank account or offset a permitted payment as a credit against any debts owed by the same UK DP, under the specified licence conditions.

The Office of Financial Sanctions Implementation (OFSI) has issued General Licence INT/2024/4576632 under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019 (‘the Russia Regulations’) which relates to Active Denizcilik and Beks Ships and allows for Transit to Port and Wind Down.

On 7 November 2024, the Office of Financial Sanctions Implementation (OFSI) issued General Licence INT/2024/5394840 which, subject to certain conditions, allows relevant institutions to process payments made in the year 2022 from or via a designated credit or financial institution, provided that the original sender and original intended recipient are not designated persons. General License INT/2022/1710676 (which allows for the continuation of business operations of Evraz North American Subsidiaries) has also been extended until 23.59 pm on 30 September 2025.

The Office of Financial Sanctions Implementation (OFSI) and HM Treasury have issued a new Legal Services General Licence INT/2024/5334756 which takes effect following the expiry of the Legal Services General Licence INT/2024/4671884 at 23:59 on 28 October 2024. The licence allows for a legal firm or counsel in the UK who has provided legal advice to a person designated under either the Russia or Belarus regime to receive payment from that person without an OFSI specific licence, as long as the terms of General Licence INT/2024/5334756 are met. Main changes from the previous licence include an increase in the fee and expenses caps, a restricted permission to pay into non-UK bank accounts and clarification of the position relating to the caps applicable for in-house lawyers and directly instructed counsel.