The Office of Financial Sanctions Implementation (OFSI) has published its annual frozen assets reporting notice for 2025. The notice outlines the annual reporting obligations under UK financial sanctions legislation. All individuals and entities holding or controlling funds or economic resources belonging to designated persons must provide the required report to OFSI by 30 November 2025. This includes assets both within the UK and overseas, provided they fall under UK jurisdiction. Reports must reflect the status of these assets as of 30 September 2025.

The Office of Financial Sanctions Implementation (OFSI) has published its annual frozen assets reporting notice for 2026. The notice sets out the requirements for the 2026 frozen asset reporting exercise under UK financial sanctions legislation. All persons holding or controlling funds or economic resources owned, held or controlled by designated persons must provide the required report to OFSI by 30 November 2026. This includes assets frozen in the UK and those overseas where they are subject to UK financial sanctions legislation. Reports must reflect the value of these assets as at close of business on 30 September 2026.

The Office of Financial Sanctions Implementation (OFSI) has published its annual review 2024–25, reporting a total of £37bn in frozen assets under UK financial sanctions, up from £24.4bn in the previous financial year. The review covers the period from February 2022–August 2025. During 2024–25, OFSI processed 904 specific licensing decisions, issued 19 general licences, imposed approximately £500,000 in penalties and sustained 240 active enforcement cases. In relation to Russia-related sanctions, £28.7bn of assets have been frozen since February 2022, and enforcement actions have included penalties against Herbert Smith Freehills and Integral Concierge Services Limited.

The Office of Financial Sanctions Implementation (OFSI) has published a blog post detailing its collaboration with the Crypto Cash Fusion Cell (CCFC) to target criminal funds linked to sanctions offences. The CCFC is a pilot multi-agency initiative comprising the National Crime Agency, the Metropolitan Police Service, HM Revenue and Customs, the Financial Conduct Authority, the City of London Police and OFSI. As part of this partnership, OFSI shared intelligence that enabled joint action against suspected breaches of financial sanctions involving cryptoassets by UK-based individuals. The collaboration also involved private sector partners, such as blockchain analytics provider Elliptic, and real-time intelligence sharing during a focused analytical operation.

The Office of Financial Sanctions Implementation (OFSI) has published a blog post detailing new guidance on sanctions compliance practices following a £160,000 monetary penalty imposed on Bank of Scotland Plc in January 2026 for breaching the Russian financial sanctions regime. The breach occurred when the bank's automated sanctions systems failed to detect a spelling variation of a designated individual’s name.

HM Treasury’s Office of Financial Sanctions Implementation (OFSI) and the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) have published guidance comparing the UK and US economic sanctions regimes to help stakeholders understand their compliance obligations. The guidance outlines the roles of both authorities, the legal frameworks underpinning sanctions, the types of sanctions measures available, and the scope of their respective jurisdictions. It explains that both regimes use sanctions to support foreign policy and national security objectives, maintain sanctions lists, issue licences for otherwise prohibited activities, and enforce compliance. The document also highlights key differences in terminology, sanctions structures, sanctions lists, and the treatment of sanctioned persons and assets.

The Office of Financial Sanctions Implementation (OFSI) has published a blog post explaining its prioritisation framework for assessing licence applications, outlining seven criteria used to determine urgency, risk, stakeholder impact and potential harm caused by delay. The framework categorises applications as high, medium or low priority, with humanitarian, basic needs and access‑to‑justice cases generally treated as high priority. OFSI emphasises that applicants can support timely decision‑making by providing clear, complete information, evidencing genuine deadlines and avoiding repeat or speculative applications.

OFSI General Licence - INT/2023/3749168 amended to include: Extending the scope of the General Licence to incorporate Lebanon. Extending the length of the General Licence by six months. Amending the deadline for Reporting Requirements to fall on 13 November 2024 and the 14 December 2025.

The Office of Financial Sanctions Implementation (OFSI) has published guidance on its licensing personal staff payments policy. This should be used by applicants to help them understand the circumstances under which the OFSI may or may not license payments for the personal staff of designated persons.

The Office of Financial Sanctions Implementation (OFSI) has published guidance assessing threats to UK financial sanctions compliance in the art market and high-value goods sector. The document forms part of OFSI's sector-specific assessment series and aims to help stakeholders prioritise compliance risks. The 23-page assessment provides information on suspected sanctions breaches to support organisations in implementing risk-based compliance approaches.

The Office of Financial Sanctions Implementation (OFSI) has published a new financial sanctions video guidance series titled 'Financial Sanctions: The Basics'. The series comprises six videos covering fundamental aspects of UK financial sanctions implementation, including guidance, consolidated lists, reporting requirements and licensing procedures. The videos aim to help individuals and companies comply with UK financial sanctions requirements.

The Office of Financial Sanctions Implementation (OFSI) has published a new general licence INT/2024/4398024 Court Funds Office Payments, made under regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019, SI 2019/855.