UK launches Office of Trade Sanctions Implementation

Housed within the Department for Business and Trade, OTSI will:

• Oversee the civil enforcement of certain trade sanctions as they relate to UK services and overseas trade with a UK nexus;
• Have the power to impose monetary penalties for breaching sanctions regulations, at a maximum of £1 million or 50% of the estimated value of the breach, depending on which is higher; and
• Be able to make public disclosures of breaches.

OTSI’s enforcement powers will apply to all UK persons including businesses (located anywhere in the world), and any person including businesses in the UK or the UK territorial sea.

OTSI’s civil enforcement powers will be granted by The Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 entering into force on 10^th October. The regulations will also introduce reporting obligations for relevant persons, and powers to request information.

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