UK's OFSI Releases Annual Review
The United Kingdom's Office of Financial Sanctions Implementation published its 2020-21 annual review, discussing changes to U.K. sanctions made following the nation's departure from the European Union. Key statistics include that 34 autonomous U.K. sanctions regimes entered into force under…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
the Sanctions and Anti-Money Laundering Act 2018; 278 new designated individuals were added to the consolidated sanctions list during fiscal year 2020-21; 48 individuals and entities were delisted during the period of review; and 43 new specific licenses were issued by OFSI. Also, £12.2 billion (equivalent to nearly $16.8 billion) in frozen funds were reported to be held by U.K. firms as of September 2020.