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Economic Sanctions

UK Sanctions

This section includes the UK Sanctions List, published by the UK Government which provides details of those designated under regulations made under the Sanctions Act.

Department for International Trade (DIT)
Embargoes and sanctions 
Foreign, Commonwealth & Development Office (FCDO)
Financial sanctions targets by regime
Financial Sanctions, Russia
Financial sanctions, Iran (human rights)
Financial sanctions, Belarus
HM Treasury – Financial Sanctions
OFSI General Licenses
The UK Sanctions List
UK Sanctions List: change in format

And many more…

 

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OFSI updates its UK Financial Sanctions FAQs, adding guidance on the treatment of specific licences when a designated person is removed from the sanctions list

October 9, 2026

New FAQ 205 addresses the status of licences following delisting, providing additional guidance for organisations managing previously restricted transactions. The clarification is relevant to sanctions compliance teams reviewing licensing permissions and the continuing application of financial restrictions…

FCDO designates two Iranian nationals under the Iran (Sanctions) Regulations 2023 for facilitating or engaging in hostile activities on behalf of the Iranian regime

October 8, 2026

The individuals include an Islamic Revolutionary Guard Corps counterespionage official and a facilitator of the Zindashti criminal network, which authorities have linked to plots against Iranian dissidents. Both face immediate asset freezes, travel bans and director disqualification measures as the UK seeks to counter state-backed threats and transnational criminal networks.

UK imposes 38 new sanctions targeting Russia’s war effort, including oil companies, shadow fleet vessels, crypto exchanges linked to sanctions evasion and military suppliers

October 8, 2026

The measures target Russian oil companies Zarubezhneft and INK Capital, bringing more than 90% of Russia’s total oil production capacity within the scope of UK sanctions. A further 12 shadow fleet tankers were sanctioned, taking the total number of designated vessels to more than 600.
Three crypto exchanges and two payment platforms were also targeted over suspected sanctions circumvention, including links to the A7 illicit finance…

OFSI issues General Licence INT/2026/11080040, permitting the wind-down of certain transactions involving a designated person under the UK Russia sanctions regime

October 8, 2026

The licence permits parties to wind down or divest from transactions involving Zarubezhneft JSC and its subsidiaries, including closing out positions.
It also allows activities reasonably necessary to complete the wind-down, subject to the licence’s conditions. Affected parties must maintain complete records of permitted activities for at least six years. The licence expires at 23:59 on 21 November 2026…

UK Sanctions List last updated

October 6, 2026

UK announces 31 new sanctions against Russia targeting war revenues, sanctions-evasion networks, disinformation and individuals linked to abuses against Ukrainian civilians and children

October 1, 2026
The UK has imposed 31 new Russia sanctions, including asset freezes and travel bans on individuals and entities, sanctions on eight vessels linked to the shadow fleet and its support network, and measures against individuals involved in the torture of Ukrainian civilians, the indoctrination of Ukrainian children and pro-Kremlin disinformation. The package also includes time-limited exemptions for certain Russian LNG shipments to Japan and South Korea…

UK introduces new sectoral sanctions measures against Iran, expanding restrictions on finance, trade and transport to further constrain Iran’s nuclear programme and related activity

September 8, 2026

The measures restrict access to the UK financial system and introduce new prohibitions covering energy, software, metals, gold, shipping, insurance and banking, while also expanding controls on goods and technology linked to Iran’s nuclear and conventional weapons capabilities. The regime also strengthens powers to target ships and restricts Iranian aircraft from landing in the UK, subject to exemptions…

OFSI fines Citibank £4.73M for multiple UK financial sanctions breaches involving £19.72M in payments, flagging weaknesses in sanctions screening, alert handling and account restrictions

September 2, 2026

The breaches involved 970 payments worth £19.72 million, including transactions involving designated Russian entities and individuals. OFSI identified weaknesses in sanctions screening, alert handling, account restrictions and staff decision-making, with delays and human errors contributing to the breaches. Citibank voluntarily disclosed most of the breaches and cooperated with the investigation, receiving a 20% discount, plus a further 20%…

UK issues its first nationwide alert on Russia’s A7 sanctions-evasion network, which claims to have moved $86bn+, as OFSI doubles its maximum penalty for breaches to 100% of the breach value

August 31, 2026

The NCA and UK government have issued the first nationwide industry alert on the Kremlin-backed A7 network, detailing its use of third-country financial institutions and cross-border payment structures to circumvent sanctions and regain access to the international financial system. A7 claims to have settled more than $86bn in transactions in its first year and has also been linked to Iranian state-associated actors, with previous UK action targeting its use of…

OTSI’s 2025–26 Annual Review flags 178 potential sanctions breaches, 88% linked to Russia, with 40 cases referred to HMRC and new powers strengthening action against sanctions evasion

August 27, 2026

It reveals the growing scale and complexity of trade sanctions risks, with 178 potential breaches reported in 2025–26, around 88% linked to Russia, and 40 cases referred to HMRC for possible criminal enforcement. New powers introduced in 2026 strengthen OTSI’s ability to tackle sanctions evasion and third-country diversion, while a significant number of investigations are now at an advanced stage…

OFSI extends the Lukoil International General Licence to Feb 2027, expanding covered subsidiaries and adding notification requirements while keeping sanctions and asset-freezing restrictions in place

August 12, 2026

OFSI amended its Russia sanctions general licence on 12 August, broadening the definition of covered Lukoil International subsidiaries, introducing a new notification requirement for entities using the licence and extending its duration by six months. A related licence covering Lukoil’s Bulgarian businesses was also amended, with revised ownership-and-control definitions, new notification requirements and an extension until 29 October 2026…

OFSI warns of scams impersonating the sanctions authority to demand payments, crypto transfers, or fees to release frozen funds, urging users to verify communications and report suspicious activity

July 24, 2026

The guidance explains how businesses and individuals can assess emails, letters and other communications claiming to come from the Office of Financial Sanctions Implementation. OFSI clarifies that it will never request payments, charge a fee for a licence or ask for money to release assets, helping recipients distinguish legitimate regulatory contact from phishing and financial fraud…

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