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UK unveils a major sanctions package with 70 new designations targeting Russia’s shadow fleet, supply chains and illicit finance networks to disrupt its war economy and weaken its invasion of Ukraine

June 16, 2026

The measures focus on disrupting oil and LNG exports, tightening pressure on shipping services and insurers, and dismantling GRU-linked procurement networks and third-country intermediaries across multiple jurisdictions, as part of coordinated G7 efforts to weaken Russia’s war economy and restrict its ability to finance and supply its military operations…

UK Sanctions List last updated

June 15, 2026

FCA and OTSI sign an MoU establishing a formal framework for cooperation, intelligence sharing, and coordination on trade sanctions enforcement in the UK

May 28, 2026

The memorandum of understanding establishes arrangements for co-operation and information exchange between the FCA and the Office of Trade Sanctions Implementation, including suspected or actual sanctions breaches, weaknesses in firms’ systems and controls, potential joint investigations and relevant intelligence. It also sets limits around confidentiality, onward disclosure, personal data handling and UK GDPR compliance, while confirming that the MoU is not legally binding and will be reviewed every two years…

FCA’s latest findings warns that despite £37B in frozen assets and stronger sanctions frameworks, firms remain vulnerable to sanctions breaches due to persistent gaps in DD, screening & compliance controls

May 28, 2026

The FCA also highlighted ongoing challenges in detecting and preventing trade sanctions breaches, noting that firms often employ a wider range of controls for trade sanctions than for financial sanctions. Most reported breaches continue to relate to Russia, although reports involving Libya, Iran and North Korea are increasing. To strengthen coordination and intelligence sharing, the FCA has signed a new Memorandum of Understanding with the OTSI complementing its existing agreement with the OFSI…

UK imposes new sanctions on Russia’s crypto and shadow finance networks, including the Kremlin-linked A7 system and exchanges, to disrupt sanctions evasion and cut war funding to Ukraine

May 26, 2026

The press release announces 18 new designations aimed at Russia’s financial infrastructure, including cryptocurrency exchanges, A7-linked individuals, a Kyrgyz bank suspected of facilitating payments, and Georgian companies operating Russia-focused exchanges. The UK frames the package as part of its wider effort to disrupt sanctions evasion, cut off funding routes for Russia’s war economy and adapt its sanctions response to evolving shadow finance…

FCDO sanctions 18 crypto firms and individuals linked to Russia’s sanctions-evasion networks, including HTX, over allegations they helped move $90B into Russia and facilitated $1.5B in suspect transactions

May 26, 2026

A key target is the A7 network, a group of companies and individuals that reportedly moved $90 billion into Russia’s economy, an amount exceeding half of Russia’s annual military budget. The sanctions also include major crypto exchange HTX, which UK authorities suspect facilitated more than $1.5 billion in transactions linked to Russia through dealings with previously sanctioned entities, including Garantex. The move highlights growing concerns over the use of cryptocurrency networks, stablecoins and alternative payment channels to evade sanctions and finance Russia’s war effort in Ukraine…

OFSI marks 10 years as an intelligence-led sanctions authority, strengthening global enforcement and partnerships while tackling rising risks from evasion, digital assets, and geopolitical instability

May 11, 2026

It emphasises OFSI’s strengthened enforcement and licensing capabilities, closer collaboration with international partners and the private sector, and increased focus on intelligence-led, data-driven supervision. The post also looks ahead to the future, stressing the importance of adapting sanctions frameworks to emerging risks such as sanctions evasion…

UK Govt’s updated Strategic Approach to Sanctions Enforcement (May 2026) refines the framework by clarifying licensing and reporting responsibilities, particularly under OTSI

May 8, 2026

The May 2026 update primarily refines Annex 1 of the UK Government’s Strategic Approach to Sanctions Enforcement by reflecting the expanded licensing role of the Office of Trade Sanctions Implementation (OTSI). It clarifies and realigns responsibilities for handling licensing applications and breach reporting, particularly in relation to trade sanctions, and provides more detailed operational guidance on how firms should report suspected breaches and apply for licences, making the overall system more consistent and clearly structured across agencies…

UK imposes sanctions on 35 individuals and entities linked to Russia’s drone production and the exploitation of vulnerable migrants recruited to support the war in Ukraine

May 5, 2026

The measures target trafficking networks accused of deceiving migrants from countries including Iraq, Somalia, Syria, and Yemen, sending them either to the frontline as “cannon fodder” or into Russian weapons factories through schemes such as the Alabuga Start drone programme. The sanctions also target suppliers of drone components and military goods from countries including China and Thailand, as part of wider efforts to disrupt Russia’s military supply chains and escalating drone attacks on Ukraine…

OFSI unveils its Strategy for 2026-2029 outlining a risk-based, intelligence-led approach to strengthen UK sanctions through improved compliance, streamlined licensing, and targeted enforcement

April 24, 2026

The strategy centres on three core outcomes: improving understanding of sanctions-evasion risks through data and intelligence, delivering higher-quality licensing, compliance support and enforcement, and strengthening partnerships across government, industry and international allies. It introduces a new operating model built around four pillars—Promote, Enable, Respond and Change—aimed at clarifying expectations…

OTSI announces it will assume responsibility for licensing sanctioned goods and associated ancillary services for exports to sanctioned destinations, effective from 27 April 2026

April 13, 2026

This expands OTSI’s current remit, which covers licensing for sanctioned standalone services. Licensing of goods and ancillary services subject to export controls only, or to both strategic export controls and sanctions, will continue to be managed by the Export Control Joint Unit (ECJU). The application process via the Department for Business and Trade’s SPIRE service remains unchanged. OTSI will process applications for sanctioned goods and ancillary services via SPIRE from 27 April 2026 onwards, while those involving goods subject to both sanctions…

UK DBT updates the AUKUS Open General Export Licence to strengthen compliance and streamline secure defence and dual-use technology sharing between the UK, US, and Australia

April 8, 2026

The notice highlights refinements to licence conditions, scope, and compliance requirements, aimed at ensuring the licence remains aligned with evolving export control policy while maintaining streamlined collaboration under the AUKUS partnership. It also reinforces that exporters must review updated licence terms, maintain robust internal compliance processes, and ensure accurate reporting and record-keeping when using OGELs for eligible transfers.

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