OFSI report reveals lack of Russia sanctions enforcement action in UK

On 14 December the UK Office for Financial Sanctions Implementation's (OFSI) annual review landed, with, say Dr Susan Hawley and James Bolton-Jones, some alarming news. In the nearly two years since Russia's full-scale invasion of Ukraine, despite UK£22.7 billion of assets frozen in relation to Russia, and a 200% staffing increase, there has been zero enforcement for post-February 2022 sanctions breaches in relation to Russia.

Dr Susan Hawley is Executive Director and James Bolton-Jones the Senior Advocacy Advisor at Spotlight on Corruption (www.spotlightcorruption.org).

On 14 December [2023] the UK Office for Financial Sanctions Implementation's (OFSI) annual review landed, with, say Dr Susan Hawley and James Bolton-Jones, some alarming news. In the nearly two years since Russia's full-scale invasion of Ukraine, despite UK£22.7 billion of assets frozen in relation to Russia, and a 200% staffing increase, there has been zero enforcement for post-February 2022 sanctions breaches in relation to Russia.