The Office of Financial Sanctions Implementation (OFSI) has updated its financial sanctions guidance with a new ‘Advisories’ section, featuring an advisory on North Korean IT workers. OFSI is issuing this advisory to stakeholders, including the private sector, to highlight threats to compliance with UK and United Nations (UN) sanctions relating to the Democratic People’s Republic of Korea (DPRK); namely, DPRK information technology (IT) workers fraudulently gaining employment with companies in the UK, US and elsewhere to raise revenue for the DPRK regime. This advisory provides detailed information on DPRK IT workers as well as associated red flags and mitigations to assist stakeholders in better understanding and protecting against this threat.

The Office of Financial Sanctions Implementation (OFSI) has issued a new general licence, INT/2024/5297490 concerning permitted activities for Iran Air. This latest addition to OFSI's general licences portfolio relates to the Iran sanctions regime and allows specific activities that would otherwise be prohibited under current financial sanctions regulations. The licence provides details of the permitted payments as well as the reporting requirements.

The Office of Financial Sanctions Implementation (OFSI) has published guidance establishing a new confidential reporting process for suspected UK sanctions breaches. The guidance outlines reporting procedures via a dedicated email address, whistleblower protections under the Employment Rights Act 1996 (ERA 1996) and explains how OFSI handles confidential information. While OFSI may share reported information with law enforcement agencies, it commits to protecting reporter identities unless legally required to disclose them. The guidance includes specific privacy protection recommendations for those making reports.

The Office of Financial Sanctions Implementation (OFSI) has issued a £5,000 penalty to Svarog Shipping & Trading Company Limited (Svarog) for breaching Regulation 74(1)(a) of the Russia (Sanctions) (EU Exit) Regulations 2019, SI 2019/855. The penalty, imposed on 11 April 2025 under section 146 of the Policing and Crime Act 2017 (PCA 2017), relates to Svarog’s failure—without reasonable excuse—to respond within the required timeframe to a request issued by OFSI under SI 2019/855, reg 72.

The Office of Financial Sanctions Implementation (OFSI) has issued a £465,000 penalty to Herbert Smith Freehills CIS LLP Moscow (HSF Moscow) for breaches of the financial sanctions regime imposed on Russia in response to its 2022 illegal invasion of Ukraine. The breaches involved six payments totalling £3.9m to designated Russian banks during the firm's wind-down in May 2022. The penalty, issued under section 146 of the Policing and Crime Act 2017 (PCA 2017), was reduced by 50% following voluntary disclosure by Herbert Smith Freehills London. OFSI confirmed no fault was found with the parent company's actions.

The Office of Financial Sanctions Implementation (OFSI) has issued a monetary penalty to Integral Concierge Services (ICSL) for breaches of the financial sanctions regime imposed on Russia in response to its 2022 illegal invasion of Ukraine. The financial breaches occurred between 2022 and 2023, when ICLS received or made 26 payments in connection with the services they were providing to the designated person, despite knowing or having reasonable cause to suspect these were in breach of UK financial sanctions. ICLS was given a penalty of £15,000 which it has paid in full.

The Office of Financial Sanctions Implementation (OFSI) has issued a £300,000 penalty on Markom Management Limited (MML) for breaching UK financial sanctions against Russia. The breach involved MML instructing a payment of £416,590.92 to a designated individual subject to an asset freeze under sanctions introduced following Russia’s 2014 annexation of Crimea. MML acted with knowledge of the recipient’s designation and failed to implement adequate compliance and control measures. This enforcement action underscores the necessity for all firms to assess their exposure to sanctions risks, maintain robust compliance systems and promptly report suspected breaches to the OFSI.

The Office of Financial Sanctions Implementation (OFSI) has issued General Licence INT/2026/9512597, replacing licence INT/2025/7323088 which expires on 28 April 2026. The licence permits UK legal firms and counsel to receive payments from designated persons under most UK Autonomous Sanctions Regimes without requiring specific OFSI authorisation, provided the licence terms are met. The new licence expires on 28 October 2026. OFSI has also updated its Financial Sanctions FAQ6, amending FAQs 50 and 57, withdrawing FAQ 170, and adding FAQ 184.

The Office of Financial Sanctions Implementation (OFSI) has issued a statement on the ongoing global IT outage. It has recognised that the technical issues with global IT systems may be impacting companies’ abilities to fulfil their reporting obligations to the OFSI or satisfy other deadlines to supply the OFSI with information. The OFSI has advised companies who may miss a prescribed deadline due to these issues to include the reason for the delay in their email to the OFSI, who will then consider this when assessing the submission.

The Office of Financial Sanctions Implementation (OFSI) has issued three General Licences under regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019, SI 2019/855. General Licence INT/2025/6403704 permits the continuation of business operations for vessels owned or operated by, or on behalf of, the Government of the Gabonese Republic. General Licences INT/2025/6488808 and INT/2025/6397444 allow persons to wind down transactions involving Litasco Middle East DMCC and Intershipping Services LLC, respectively.

The Office of Financial Sanctions Implementation (OFSI) has issued two General Licences under The Russia (Sanctions) (EU Exit) Regulations 2019, SI 2019/855. General Licence INT/2025/6275812 permits the wind down of positions involving St Petersburg Currency Exchange and Non-bank Credit Organization Joint-Stock Company Petersburg Settlement Center. General Licence INT/2025/6279615 allows insurance premium payments to the Deposit Insurance Agency, creating a specific exemption from existing Russia sanctions restrictions.

The Office of Financial Sanctions Implementation (OFSI) has issued two new General Licences. General Licence INT/2025/7539056, titled Russian Oil Majors Wind Down and General Licence INT/2025/7538856, titled Energy Entities Wind-down, both permit persons to wind down transactions involving designated persons. These licences are intended to facilitate the orderly cessation of business activities with sanctioned entities and require users to consult the full licence texts for definitions, permissions and compliance requirements.