Russia Sanctions Tracker - UK (2026)

OFSI has published 6 new on Basic Needs Allowance (BNA) licences (FAQs 197-202), which permit designated persons to access a capped monthly sum from frozen funds for essential living expenses. OFSI benchmarks the BNA against median household income. In many cases, including those involving high net worth individuals, the BNA will not provide for the continuation of a pre-designation standard of living.

FAQs 197-202 cover the purpose and scope of BNA licences, permitted expenditure, reporting requirements, treatment of monthly underspend, and how costs falling outside the BNA may be licensed separately.

The guidance is relevant to designated persons and any party facilitating payments under a BNA licence.

General Licence: Arbitration Costs - amendment

INT/2025/5787748

Publication notice

The General Licence has been amended to update the reporting requirement.

Any persons relying on the General Licence must now report to HM Treasury any payments received under this licence during that calendar month to within 14 days of the end of each calendar month.

Any persons intending to use the General Licence should consult the copy of the Licence for full details of the reporting requirements.

General Licence: brokerage accounts – amendment

INT/2025/6641960

Publication notice

Asset freeze: additions

Press release

10 individuals have been added to the UK Sanctions List and are now subject to an asset freeze and other sanctions:

• Tatiana Petrovna Kosterova
• Olga Sergeevna Kuznetsova
• Natalia Vitalyevna Chebotaeva
• Maksim Vitalyevich Matveev
• Evgeniia Aleksandrovna Grebneva
• Aleksandr Igorevich Minin
• Daria Rosliakova
• Aleksandr Klimovich Kan
• Valeriia Vladimirovna Zvinchuk
• Denis Valeryevich Vulf

Asset freeze: additions

The Cyber (Sanctions)(EU Exit) Regulations 2020

Press release

13 individuals and one entity have been added to the UK Sanctions List and are now subject to an asset freeze and other sanctions.

The entity is:

• OOO Impuls

The individuals are:

• Yuliya Vladimirovna Pankratova
• Denis Olegovich Degtyarenko
• Maksim Evgenievich Voronin
• Maksim Aleksandrovich Gordienko
• Marat Shaigovich Zhurkin
• Roman Aleksandrovich Puntus
• Vyacheslav Stanislavovich Stafeyev
• Evgeniy Viktorovich Bashev
• Ivan Sergeyevich Kasyanenko
• Aleksandr Vladimirovich Shepelev
• Dmitriy Aleksandrovich Voronov
• Sultan Omarovich Omarov
• Ivan Alekseyevich Senin

These designations have been made under the UK's cyber sanctions regime but involve the designations of Russian persons connected with recent cyber-attacks.

General License: non-designated third-party brokerage accounts held at designated brokerage firms - amendment

INT/2025/6641960

Publication Notice

HMRC has published a technical note providing information on sanctions enforcement activities undertaken and outcomes achieved in the 2025 to 2026 financial year. This information was previously published in the United Kingdom strategic export controls annual reports.

HMRC's enforcement activity included:

• 58 seizures of sanctioned goods

• 1 compound settlement issued by HMRC totaling £1,160,725.76 for a breach of The Russia (Sanctions) (EU Exit) Regulations 2019

• 18 HMRC warning letters issued as a result of voluntary disclosures

• 3 positive charging decisions by prosecuting authorities for 2 cases that are pending trial.

In relation to suspected breaches of UK trade sanctions, a total of 22 criminal investigations pursuant to prosecutions were ongoing in 2025 to 2026.

HMRC received 29 voluntary disclosures, which have resulted in: 18 warning letters issued; 7 'No Further Action' letters issued; 1 compound settlement offer issued; and 3 still under review.

HMRC received 44 referrals from OTSI, of which: 21 are under review; 10 have resulted in no further action; and 13 have been used to support existing HMRC investigations.

The note states that in 2026/2027, HMRC plans to seek new legal powers to strengthen its ability to publish details of companies that agree a compound settlement for strategic export and sanctions offences.

The following shipping specification has been revoked and is no longer subject to shipping sanctions:

• Zangazur (IMO 9420617)

Asset freeze: additions

Chemical Weapons (Sanctions) (EU Exit) Regulations 2019

Press release

7 individuals and 2 entities have been added to the UK Sanctions List and are now subject to an asset freeze and other sanctions.

The entities are:

• SC Signal (also known as NTs Signal)
• The State Research Institute of Military Medicine / GNIII VM

The individuals are:

• Artur Zhirov
• Andrei Antokhin
• Aleksandr Makhlay
• Sergei Chepur
• Ivan Kravtsov
• Viktor Taranchenko
• Vladimir Kondratyev

These designations have been made under the UK's chemical weapons regime but involve the designations of Russian actors alleged to be involved in the research, development and production of Novichok nerve agents and epibatidine linked to the poisonings of Alexei Navalny and Dawn Sturgess.

General license: Maritime Mutual group wind-down – extension

INT/2026/8893924

Publication notice

The General License was amended and extended as follows:

• The expiry date of the General License has been further extended from 8 July 2026 to 7 October 2026.
• A monthly reporting requirement has been introduced. Within 14 days of the end of each calendar month, Designated Persons relying on the license are now required to provide HM Treasury with a report setting out details of all activities and/or payments carried out under the license during that month. Details of what the report(s) must include are listed within the General License and Publication Notice.

29 June 2026

Enforcement: HMRC compound settlement

Notice to exporters 2026/15

A British energy company has paid HM Revenue and Customs a compound settlement of £569,157.07 for offences under the Russia Regulations.  The offences were committed while the company was divesting its operations in Russia in 2022 to 2023. 

The company breached Regulation 46Y(2)(c) on two occasions in relation to industrial goods, sanctioned under the G7 Dependency and Further Goods chapter of the Russia Regulations. The first offence was for making the sanctioned goods available to a person connected to Russia. The second offence was for making available sanctioned goods for use in Russia.  The company also breached Regulation 46Z(1)(b) by providing technical assistance in respect of the goods it made available. 

This case was brought to HMRC’s attention following a voluntary disclosure by the company, who has fully cooperated with HMRC’s investigation.

23 June 2026

OFSI-OFAC Joint Guidance: A comparative Overview of the US and UK economic sanctions authorities

OFSI and OFAC have published joint guidance which compares the U.S. and UK economic sanctions authorities. The guidance compares key aspects of U.S. and UK sanctions regimes, identifying similarities and differences on topics such as sanctions lists, licenses, as well as recordkeeping and reporting requirements. This new publication focuses on ensuring that those who are required to comply with the sanctions have a clear and strong understanding of how to do so.

General License: Continuation of Business of Lukoil International Entities – amendment

INT/2025/8031092

Enforcement: OFSI monetary penalty

Public penalty notice

On 26 May 2026, OFSI imposed a penalty of £1,000,920 on a UK-registered technology company for breaching UK Russia sanctions.

The penalty relates to the company continuing to provide services to JSC Ural Airlines after its designation in May 2022 and receiving payment in respect of the same, as well as exploring alternative options for receiving payment from the designated person, which OFSI considered amounted to circumvention.

The company made a voluntary disclosure to OFSI in respect of the payments and thereafter cooperated fully with OFSI's investigation. OFSI considered that the company was eligible for a voluntary disclosure discount. The monetary penalty was imposed following settlement discussions under transitional arrangements related to OFSI's new enforcement framework.

Asset freeze - additions

Press release

31 entities and 14 individuals have been added to the UK Sanctions List and are now subject to an asset freeze, trust services and other sanctions.

The designations target Russia's oil trade and defense sector, including:

• ship insurers and providers of other shipping services to Russia's oil trade
• those suspected of enabling the sale of tankers to Russia's shadow fleet
• a Russian military intelligence (GRU) network centered around front company LLC Neptune Co Ltd, which is involved in procuring western technology for Russia’s military
• third country suppliers of critical military equipment to Russia in China, Thailand and Türkiye
• several organizations helping Russia illegally move money, including one entity in Nigeria supporting the illicit finance network A7’s sanctions evasions scheme

Shipping specifications - additions

Press release

General Trade License: Sanctioned Processed Oil Products - amendment

General License GBSAN0004

General License: UK Interdiction

INT/2026/9559192

Publication notice

This general license authorizes persons and entities to:

• take any necessary steps to enable and enact the Interdiction;
• make funds available for the benefit of a Designated Person for the sole purpose of enabling and enacting the Interdiction; and

Relevant UK Institutions may process payments made in accordance with the above.

"Interdiction" means any action taken to facilitate, enable or otherwise support the actions of HMG in the exercise of its Legal Powers which would otherwise breach the prohibitions in regulations 11 to 15, 17A, and 46Z9C to 46Z9D of the Russia Regulations.

"Legal Powers" means the powers available to the Secretary of State under regulations 57C-D of the Russia Regulations for the purpose of enforcing any possible breaches of the Russia Regulations.

A 6-year record-keeping requirement applies.

The License takes effect from 12 June 2026 and has no expiry date.

OFSI has published new FAQs (FAQs 188–195) clarifying how financial sanctions apply to transactions involving PJSC Transneft, which was designated in February 2026.

These FAQs provide additional guidance to industry on how relevant prohibitions operate in practice, including when a license may be required and how firms should approach compliance risks.

OFSI has published a new FAQ (FAQ 187) on how mandatory corporate actions (MCAs) engage the Russia and Belarus Regulations, providing clarity for those trading transferable securities and money market instruments.

The FAQ explains that new instruments, created through an MCA will not automatically engage Regulation 16 of the Russia Regulations or Regulation 15A of the Belarus Regulations. Whether these provisions apply will depend on the specific facts, and the FAQ includes a worked example illustrating how this assessment may be made.

This guidance is intended to support firms to continue trading whilst remaining compliant with UK sanctions.

One entity has been removed from the UK Sanctions List and is no longer subject to an asset freeze and other sanctions:

• Limited Liability Company responsibility of “RBRU Specialized Depository”

OFSI has published a new FAQ (FAQ 186) on the application of UK financial sanctions to the HTX cryptocurrency exchange.

The FAQ explains that, following the UK's designation of Huobi Global S.A. on 26 May 2026, OFSI considers that the HTX cryptocurrency exchange is subject to UK financial sanctions.

The FCA has published a report which reviews financial firm's controls, highlighting good and poor practices and areas for improvement to support better compliance with sanctions rules.

This report sets out the FCA's principal findings based on the work it has undertaken since its September 2023 report on firms' responses to increased sanctions, including proactive and reactive casework and the FCA's analysis of data reported to us.

OTSI and the FCA have entered into a memorandum of understanding for the sharing of information. To the extent permitted under applicable laws and policies, they intend to share relevant information that enables effective co-operation and the discharge of their functions. This includes:

• information relating to suspected or actual sanctions breaches
• information shared under relevant legislation
• information that could be used for intelligence purposes
• information that would be relevant to the FCA or OTSI’s remit that is not related to sanctions.

General License: personal remittances - amendment

INT/2024/4761108

Publication Notice

The General License, which allows non-designated persons to make or receive permitted payments via a designated credit or financial institution up to a certain limit, was amended to include:

• a new definition of "cryptoasset" - a cryptographically secured digital representation of value or contractual rights that uses a form of distributed ledger technology and can be transferred, stored or traded electronically.
• a new reporting requirement for any person using cryptoassets to make or receive payments under the license.

The license now expires on 23 February 2028.

Asset freeze: additions

Press release

4 individuals and 14 entities and are now subject to an asset freeze, trust services and other sanctions.

The entities are:

• Exmo Exchange Limited
• Nueva Cryptologia S.A.S. De C.V.
• Arvix LLC
• Rapira Group LLC
• Alistera Limited
• Eurasian Savings Bank OJSC
• Bitpapa IC FZC LLC
• Sooty Limited
• Aifory LLC
• State Brokerage Company OJSC
• Diamond Estate LLC
• Trace Road LLC
• Virtual Assets Issuer OJSC
• Huobi Global S.A.

The individuals are:

• Liran Cohen
• Igor Olegovich Gorin
• Irina Rafaelyevna Akopyan
• Sergey Mendeleev

The designations target those facilitating Russian sanctions evasion through cryptocurrency channels, including persons linked to the A7 crypto network.

19 May 2026

The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2026

Explanatory memorandum

In force – 20 May 2026

Shipping sanctions: provision of services to specified ships

(new Regulations 46ZA, - 46AB, 61ZB)

Various new prohibitions have been introduced in respect of the direct or indirect provision of services to specified ships, including prohibitions on:

• providing technical assistance; crew services; operating services; chartering services; brokering services; financial services or funds
• providing services relating to the acquisition, sale, transfer or supply of a specified ship
• the procurement of services relating to a specified ship, in particular, services involving the use of that specified ship

Associated exceptions for conduct that is necessary to protect or avoid endangering the safety of any ship, or the life of any person.

Trade sanctions: Russian processed oil products

(new Chapter 4IB, Regulations 46Z9E - 46Z9I)

A new prohibition on the import of 'relevant processed oil products'.

"relevant processed oil products" means oil and oil products which—

• fall within commodity code 2710, and
• have been processed in a third country from 2709 oil and oil products ("2709 oil and oil products" are those oil and oil products which fall within commodity code 2709, and originate in Russia)

Includes a prohibition of the provision of associated technical assistance, financial services and funds and brokering services.

The Department for Business and Trade has published guidance on the import of sanctioned processed oil products.

Trade sanctions: Russian uranium

(new Chapter 4KA, Regulations 46Z23A - 46Z23G, 60K, Schedule 3HA)

New prohibitions on "uranium", comprising prohibitions on:

• the import of uranium which is consigned from, or originates in, Russia
• the acquisition of uranium which is consigned from, or originates in, Russia
• the supply or delivery of uranium from a place in Russia to a third country

"uranium" means anything specified in Schedule 3HA (which specifies items with commodity codes 284410, 284420, and 284430).

Includes a prohibition of the provision of associated technical assistance, financial services and funds and brokering services.

Associated exceptions for:

• the continued operation of a nuclear installation in a third country, where the installation was operational on 20 May 2026; and/or
• uranium exported from Russia before 20 May 2026 and stored in a third country.

Trade sanctions: Maritime transportation of liquefied natural gas (LNG)

(new Chapter 4LA, Regulations 46Z29A - 46Z29D, 60L)

A new prohibition on the supply or delivery by ship of liquefied natural gas from a place in Russia to a third country, or from one third country to another third country.

"supply or deliver by ship" includes any transfer of the goods concerned between ships on which those goods are being supplied or delivered as specified in that paragraph;

A person supplying or delivering the goods concerned by ship includes a person who owns, controls, charters or operates a ship on which those goods are being carried, or from or to which those goods are being transferred.

Includes a prohibition of the provision of associated financial services and funds and brokering services.

Associated exceptions for:

• activity in connection with an obligation arising under a contract for the supply of LNG concluded before 17 June 2025 provided that the duration of the contract exceeds one year, the terms of the contract are not amended after 17 June 2025 (with certain exceptions), and the relevant activity is carried out before the end of 1 January 2027
• derivatives trading

Shipping sanctions: Detained transport assets

(new Chapter 4O, Regulation 46Z39)

A new prohibition on the direct or indirect acquisition or purported acquisition of a detained transport asset from, or for the benefit of a designated person, or a person connected with Russia. Any such acquisition / purported acquisition is void.

“detained transport asset” means:

• a ship subject to a direction under regulation 57D(1), or
• an aircraft subject to a direction under regulation 57J(6)(b)

Trade sanctions: professional and business services restrictions – amendment

(amendments to Regulation 54B, 54C, and 60DA, Schedule 3J)

The professional and business services restrictions have been expanded to include construction services.

"construction services" is defined in Schedule 3J

Associated exceptions for:

• an obligation arising under a contract concluded before 20 May 2026 provided that the act is carried out before the end of 20 August 2026 (subject to a notification requirement)
• an act necessary for essential maintenance (as defined) (subject to a notification requirement).

Shipping sanctions: specified ships - chartering or operating a specified ship

(new Regulation 57ZA)

A new prohibition on chartering or operating a specified ship.

"specified ship" means a ship specified under regulation 57F (specification of ships)

Trade sanctions: restricted goods – new/amendments

(various)

Further amendments to existing trade restrictions to bring new goods/technology into scope of those restrictions. The key amendments are as follows:

• The restrictions on 'critical-industry goods and critical-industry technology' have been expanded to certain ancillary chemicals used in advanced chip production and constituent chemicals for propellants – new Part 1C and updates to Part 9 of Schedule 2A
• The restrictions on 'quantum computing and advanced materials goods and technology' have been expanded to include new items - new Part 3 of Schedule 2E
• The restrictions on 'defense and security goods and defense and security technology' have been expanded to include certain ancillary goods for engineering biology and certain chemicals - updated Part 4 and new Part 5 of Schedule 3C.

Associated exceptions for the new parts listed above (not the updates parts) for any act done in satisfaction of an obligation arising under a contract concluded before 20 May 2026 provided that the act is carried out before the end of 20 November 2026 (subject to a notification requirement).

General Trade License: sanctioned processed oil products

[GBSAN0004]

This general license permits the import into the UK of the following prohibited goods processed in third countries from Russian crude oil:

• diesel (HS 2710 19 42 or HS 2710 19 44)
• jet fuel (HS 2710 19 21)

The license also permits the provision of certain services and actions related to their import.

The license has a record-keeping requirement.

This license comes into force on 20 May 2026 and is of indefinite duration. The license shall be periodically reviewed by the Secretary of State, but they will endeavor to provide 4 months’ notice of any decision to revoke the license.

The Department for Business and Trade has published guidance on the import of sanctioned processed oil products.

This general license authorizes a person, subject to the conditions in the license, to:

• supply or deliver by ship LNG from the Sakhalin-2 LNG terminal or Yamal LNG terminal to a third country;
• supply or deliver by ship LNG originating at the Sakhalin-2 terminal or Yamal LNG terminal, from one third country to another third country;
• provide brokering services, or financial services and funds in pursuance of or connection with an arrangement whose object or effect is the activity described above;

The license has a notification requirement.

This license takes effect on 20 May 2026 and will expire on 1 January 2027.

Enforcement: OFSI monetary penalty

Public penalty notice

OFSI has imposed a £165,000 monetary penalty on the London branch of a German bank for breaches of Regulation 12 of the Russia Regulations which prohibits making funds available to a person owned or controlled by a designated person.

Between June and July 2022, the bank processed two payments totaling £635,618.75 to an entity wholly owned by a designated person.

The payments were voluntarily disclosed to OFSI. The penalty was imposed following settlement discussions under OFSI's new enforcement framework. This is the second OFSI monetary penalty case resolved through settlement.

The following shipping specification has been revoked and is no longer subject to shipping sanctions:

• MILLEROVO (IMO 9035541)

The updates introduced by The Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2026 (see entry for 22 April below) are now in force.

FAQs 137-138 have been updated and FAQ 185 has been added.

Asset freeze: additions

Press release

10 individuals and 8 entities have been added to the UK Sanctions list and are now subject to an asset freeze and trust service sanctions.

In addition, the UK Government has designated 12 individuals and 5 entities under its 'Global Irregular Migration' regime (access the notice here). These designations target networks that are exploiting vulnerable migrants from across the globe to support Russia’s illegal war in Ukraine.

24 April 2026

General License: Legal Services – new/replacement license

INT/2026/9512597

Publication notice

OFSI has issued a new license in respect of legal services to replace the prior license (INT/2025/7323088) which expired on 28 April 2026. This new license applies to most UK Autonomous Sanctions Regimes, including Russia and Belarus.

Key changes include:

• A new definition of “DP Group”, which means a DP designated for the purposes of an asset freeze by the UK under the UK Autonomous Sanctions Regulations, excluding those designated for the purpose of compliance with United Nations obligations, together with any entities owned or controlled by that DP.
• Several permissions and conditions of the General License have been amended to incorporate this definition.
• A DP and its owned or controlled entities may pay the legal fees for that DP or another entity within that DP group.
• The License fee and expenses caps apply to all matters that a Law Firm (or Counsel, if engaged under a direct instruction) are handling for individuals or entities within a DP group, or where there is no DP Group, the designated entity or individual.
• Payments are now permitted to be made to a Non-UK Bank Account held by an individual regulated by the Solicitors Regulation Authority, the Law Society of Scotland or the Law Society of Northern Ireland, who provides Legal Services outside the United Kingdom, otherwise than at a branch of a Law Firm that falls within paragraph 8.2.1 (Part A) or 11.2.1 (Part B).

(A version of General License INT/2026/9512597 showing all the changes to the prior license made can be found in the Annex to the Publication Notice.)

This license takes effect from 00:01 on 29 April 2026 and expires on 23:59 on 28 October 2026.

OFSI's FAQ 170 has been withdrawn and FAQ 184 has been added following the new General License. FAQ 50 and FAQ 57 have been amended.

22 April 2026

(in force 13 May 2026)

The Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2026

Explanatory memorandum

Trade sanctions: introduction of 'Sanctions End Use Controls'

Regulation 55A (new)

The Russia sanctions regulations have been amended to introduce 'Sanctions End Use Controls', a new licensing requirement for export to a non-sanctioned third country where the exporter has been informed by the government that there is a risk of ultimate diversion of the goods or related technology, via that route, to a sanctioned destination.

OTSI has published guidance to support UK businesses potentially affected by Sanctions End-Use Controls.

The guidance for 'Trading under sanctions with Russia' has also been updated to include checking the end-use of goods.

The following updates have been made to the Russia sanctions regulations:

• Changing relevant firms reporting from euros to pounds: the definitions of high value dealers and art market participants within the relevant firms regulations has been updated so that monetary thresholds are expressed in pounds sterling (£) rather than euros (€). In particular, the €10,000 threshold is being replaced with a £10,000 threshold. This aligns sanctions reporting obligations with upcoming changes to those in the UK money laundering regulations, so firms are not reporting in two different currencies.
• Electronic notices for licenses: OFSI and other authorities can send notices for licenses electronically without needing consent for this approach. This reflects how communications already work and removes an outdated technical requirement.
• HM Treasury debt exception: A clarification that the exception for Treasury debt applies to all transfers of funds across the entire payment chain, including intermediaries.
• Updates to the prior obligations licensing ground: The prior obligations licensing ground has been broadened, giving OFSI greater flexibility to license legitimate pre-designation obligations in appropriate cases while maintaining safeguards against sanctions circumvention.

17 April 2026

(effective date 27 April 2026)

Trade sanctions: responsibility for licensing – update

Notice NTE 2026/12

OTSI update

The Export Control Joint Unit (ECJU) has published a Notice explaining that from Monday 27 April, OTSI will become responsible for licensing sanctioned goods and associated ancillary services for export (where these are not otherwise subject to export controls).

The ECJU will continue to be responsible for licensing all goods and associated ancillary services which are subject to export controls (including where the destination is sanctioned). 

OTSI has also published an update which explains the changes and what this means for exporters. Further information and guidance is expected on 27 April 2026.

Enforcement: criminal charges for breach of UK Russia sanction

Press release

The National Crime Agency has brought charges against John Ormerod for breaching UK sanctions against Russia. Mr. Ormerod is alleged to have dealt with a £200,000 transfer in breach of Regulation 11 of the Russia Regulations on 20 May 2025. He has also been charged with a money laundering offence relating to a separate £100,000 transfer. Mr. Ormerod was delisted by the UK in March 2026.

His first court appearance is scheduled for May 2026.

General license: Maritime Mutual group wind-down – extension

INT/2026/8893924

Publication notice

The validity of this general license has been extended to provide for additional time for the wind-down of re-insurance arrangements involving Maritime Mutual.

The extended license will now expire on 08 July 2026 (it was due to expire on 09 April 2026).

1 April 2026

General trade license: Russia sanctions – sectoral software and technology' - extension

Notice NTE 2026/08

General trade license

The validity of this general trade license has been extended to provide for additional time for licensing processes to be completed, ensuring that legitimate use of sanctioned software and technology can continue without disruption. The license extended license will now expire on 30 October 2026 (it was due to expire on 17 April 2026).

The extension has been affected by way of the revocation of the prior license and the issuance of a new license in substantially the same terms.

30 March 2026

Enforcement: OFSI monetary penalty

Public penalty notice

On 19 March 2026, OFSI imposed a penalty of £390,000 on the Irish subsidiary of a US technology company for breaches of Regulation 12 of the Russia Regulations which prohibits (among other conduct) making funds available to a person owned or controlled by a designated person.

The subsidiary instructed a UK bank in June and July 2022 to make two payments totaling £635,618.75 to an entity which was wholly owned by a designated person. This conduct amounted to conduct in the UK.

The payments were voluntarily disclosed to OFSI in October 2022. The penalty was imposed following settlement discussions under OFSI's new enforcement framework.

31 March 2026

General License: Payments to Utility Companies for Gas and Electricity by UK Designated Persons who own or Rent Properties in the UK - amendment

INT/2022/2300292

Publication notice

The General License has been amended to permit all forms of utility payment, including cash. The reporting requirements have also been updated.

General license: Permitted Payments to UK Insurance Companies - amendment

INT/2022/2009156

Publication notice

The General License has been amended to allow designated persons to make IPF repayments to UK intermediaries rather than insurers or brokers.

27 March 2026

General license: Bond amendments and restructurings for non-

Designated Persons – amendment

INT/2023/2824812

Publication notice

 The General License was extended to 26 March 2028 (it was due to expire on 27 March 2026).

19 March 2026

General license: Kazakh Oil Exports (Transneft)

INT/2026/9247168

Publication Notice

The General License permits activity, including but not limited to payments, involving PJSC Transneft and any subsidiary in relation to the supply, purchase, transportation or delivery of crude oil falling within commodity code 2709 which originates in Kazakhstan ("Kazakh Oil"), provided that:

• the Kazakh Oil is not owned by a person connected with Russia; and
• the Kazakh Oil is only being loaded in, departing from or transiting through Russia.

The General License also permits UK financial institutions to process payments in connection with the above.

This license takes effect from 19 March 2026 and expires at 23:59 on 18 March 2028

17 March 2026

Asset freeze: removal

One individual has been removed from the UK Sanctions List and is no longer subject to an asset freeze, trust services and other sanctions:

• German Valentinovich Belous

13 March 2026

OFSI Licensing: Reasonableness in licensing – updated approach

OFSI has today published a blogpost, Reasonableness in licensing – updated approach. It provides more clarity on the evidence OFSI requires to support license applications under the legal services and routine holding and maintenance licensing grounds, helping applicants to submit complete, well evidenced applications.

The blogpost should be read alongside OFSI’s earlier blogpost, Reasonableness in licensing.

10 March 2026

Sanctions enforcement: UK Government strategy

The UK Government has published an overview of its approach to enforcing breaches of UK sanctions. This follows the cross-government review of sanctions implementation and enforcement, which concluded that "a cross-government strategy on enforcement will assist industry to understand the range of non-compliance and possible enforcement consequences".

The document sets out key enforcement principles, emphasizes the importance of strong compliance and outlines the potential consequences of non-compliance. It also summarizes the roles of key government departments, regulators and enforcement bodies.

2 March 2026

Asset freeze: removal

One individual has been removed from the UK Sanctions List and is no longer subject to an asset freeze, trust services and other sanctions:

• John Michael Ormerod

25 February 2026

General License: Continuation of Business of Lukoil International Entities

INT/2025/8031092

The General License has been amended to extend the expiry date to 25 August 2026.

OFSI's FAQ 174 was also amended to reflect this amendment.

24 February 2026

Asset freeze: additions

Press release

7 individuals and 240 entities have been added to the to the UK Sanctions List and are now subject to an asset freeze and trust service sanctions. The designations include:

• PJSC Transneft, which handles more than 80 per cent of Russia's oil exports;
• 175 companies forming part of the '2Rivers' oil network - one of the largest shadow fleet operators globally and a major trader of Russian crude oil;
• 49 entities and individuals supporting Russia's military effort, including a number of international entities;
• 3 civil nuclear energy companies and 2 individuals seeking overseas contracts for new Russian nuclear facilities;
• 6 targets within Russia's LNG sector, including ships (see entry below), traders and Russia’s Portovaya and Vysotsk terminals responsible for exporting Russian LNG, and
• 9 Russian financial institutions involved in processing international payments: Avers Bank, Bank Tochka; Post Bank (aka Pochta Bank or Leto Bank); Lanta-Bank; Sinara Bank; Transcapitalbank / Bank TKB; Absolut Bank; AK BARS Bank; and Fora Bank.

This package of sanctions marks four years from the start of the war and is the largest since the early months of the invasion in 2022.

Shipping specifications – additions

Press release

50 vessels have been specified under the Russia sanctions regime, comprising 48 oil tankers involved in transporting Russian oil and a number of LNG tankers.

(Access the list here or search the UK sanctions list for 'ships' designated on 24 February 2026).

General License: Russian Oil Exempt Projects – amendment

INT/2025/5635700

The General License was amended to include any entity owned or controlled (whether directly or indirectly) by PJSC LUKOIL Oil Company, PJSC Rosneft Oil Company or PJSC Transneft.

Druzhba Pipeline was also added to the list of exempt projects at Schedule 1, with an expiration date of 14 October 2027.

General License: Maritime Mutual Re-Insurance Wind Down

INT/2026/8893924

OFSI has issued a General License allowing a UK Insurer and/or a UK Insurance Broker to transmit funds or economic resources to or from Maritime Mutual Association Limited, Maritime Mutual Insurance Association (NZ) Limited and their subsidiaries (following their designation on 24 February 2026):

• where they are obligated to do so under insurance or reinsurance contracts agreed in writing prior to 24 February 2026; or
• in order to cancel and/or terminate and/or extricate themselves from any insurance or reinsurance contracts agreed in writing prior to 24 February 2026.

A UK Insurer, UK Insurance Broker, Relevant UK Institution and/or a person may carry out any activity reasonably necessary for the purposes of the above, including the processing of payments by a Relevant UK Institution.

The GL is subject to a record-keeping requirement.

The license takes effect from 24 February 2026 and expires on 9 April 2026 8 July 2026 (validity extended on 9 April 2026 – see above).

General License: PJSC Transneft Wind Down

INT/2026/8889196

OFSI has issued a General License allowing a person to wind down or divest from any transactions it is party to that involve PJSC Transneft (or one of its subsidiaries), including the closing out of any positions.

The GL is subject to a record-keeping requirement.

This license takes effect from 24 February 2026 and expires on 9 April 2026.

23 February 2026

General License: Funds of non-designated third parties involving designated credit or financial institutions - amendment

INT/2024/4761108

The General License concerning the use of retail banking services of a designated credit or financial institution was amended to:

• extend the date of expiry from 21 May 2026 to 23 February 2028; and
• increase the permitted total cumulative value of payments processed from £50,000 to £55,000.

Following its consultation, OFSI has published updated enforcement guidance. This guidance comes into effect from 9 February 2026.

The guidance includes minor updates to a number of chapters, and the significant updates and additions below:

Early Account Scheme, Settlements & Financial Hardship

• Chapter 4 – Early Account Scheme (EAS): Introduction of a new EAS (with a penalty discount of up to 20%), enabling subjects to provide an early factual account of a breach in eligible cases. This section sets out clear eligibility criteria, a step-by-step process, and the information OFSI expects to receive.
• Chapter 6 – Settlement Scheme: Introduction of a new Settlement Scheme (with a penalty discount of 20%). This section sets out how the scheme operates in practice and how it can apply to existing cases.
• Chapter 7 – Financial Hardship: New policy explaining how OFSI will consider exceptional claims of financial hardship, including the burden on the subject to evidence hardship and OFSI’s ability to consider public interest factors.

Enforcement Case Assessment & Discounts

• Chapter 5 – Updated Case Factors: Several case factors have been updated, added, removed or renamed to provide clearer and more consistent assessments.
• Chapter 5 – Four Level Seriousness Model: Replacement of the previous framework with a new four-tiered seriousness model (Levels 1–4), each with indicative outcomes ranging from warning letters to monetary penalties.
• Chapter 6 – Voluntary Disclosure & Cooperation Discount: Introduction of a single penalty discount (up to 30%) for complete voluntary disclosure and co-operation, supported by expanded guidance clarifying what OFSI considers complete and timely cooperation.

Information, Reporting & Licensing Offences

• Chapter 13 – Fixed Monetary Penalties: New section detailing how £5,000 and £10,000 fixed penalties will be applied for relevant offences, including the assessment process, penalty determination, and examples of applicable conduct. This section also expands on OFSI’s interpretation of information offences.

One individual has been removed from the Russia financial sanctions regime and is no longer subject to an asset freeze, trust service and other sanctions:

• Alexey Valeryevich Panferov

General License: Humanitarian activity – amendment

INT/2022/1947936

Annex I of the General License, which sets out Designated Financial Institutions, was amended to remove Bank FC Otkritie and replace it with BM-Bank, reflecting their merger.

OFSI's FAQs 147-148 were amended accordingly.

General License: Payments by Revenue Authorities – amendments

INT/2025/7328184

The General License was amended to update the definition of “Revenue Authority” to include the Welsh Revenue Authority and Revenue Scotland.

29 January 2026

OFSI Enforcement Consultation:

Response

OFSI blog post

OFSI has published its response to its public consultation on enforcement. This sets out improvements to make sanctions enforcement more transparent and predictable. These changes are designed to support compliance, give firms greater certainty and help this government apply sanctions in a fair, effective and robust way.

The changes include:

• Improve transparency for industry with a new case assessment matrix and updated guidance to make enforcement decisions clearer and more predictable.
• Enable OFSI to resolve cases more efficiently by introducing settlement and Early Account schemes which will give suitable cases quicker routes to resolution.
• Streamline process for lower-level breaches with set penalties for appropriate information, reporting and licensing offences.
• Strengthen deterrence for serious breaches with plans to double OFSI’s maximum civil penalties, subject to legislation.

28 January 2026

UK Sanctions List: Closure of OFSI Consolidated List and move to a single UK Sanctions List

OFSI's Consolidated List of Asset Freeze Targets has closed and is no longer being updated. The UK Sanctions List is now the only source for all UK sanctions designations.

The Russia list of designations and sanctions notices will also be published on this webpage.

26 January 2026

OFSI announced that on 10 November 2025 it imposed a monetary penalty of £160,000 to a UK banking institution.

The penalty relates to 24 payments processed by the institution, totaling £77,383.39, to a personal account of an individual designated under the Russian financial sanctions regime.

On 23 February 2026, OFSI published a blog post on this enforcement action.

Russian oil: price cap lowered
Joint guidance published by OFSI and HM Treasury

On 15 January 2026, OFSI announced that the Russian oil price cap will be lowered from $47.60 to $44.10 per barrel, effective 23:01 (GMT) 31 January 2026. OFSI has updated the FAQs 154-161 to reflect these changes.

General Trade License: Financial Services and Funds related to Fertilizers

The existing 'General trade license Russia sanctions – financial services and funds related to fertilizers has been revoked and a new one granted.

The general license permits the provision of financial services and making funds available to a person connected with Russia for the supply or delivery of specified fertilizer goods either from Russia to a third country, or from Russia to a person in a third country, where they are intended for agricultural use only.