The Office of Financial Sanctions Implementation has released its Annual Review for the year to August.  Among the information provided is that to 22 October this year £18.39 billion in frozen funds were reported to OFSI as being held by on behalf of people designated on the UK’s Russia sanctions (up from £44.5 million in September 2021) and £76,000 from UK counter-terrorist sanctions.  It is also said to have received 236 reports of sanctions breaches.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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