Office of Financial Sanctions Implementation

Treasury written question – answered on 20th February 2023.

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Photo of Pat McFadden Pat McFadden Shadow Chief Secretary to the Treasury

To ask the Chancellor of the Exchequer, how many financial penalties have been issued by the Office of Financial Sanctions Implementation for breaches of sanctions under the Russia (Sanctions) (EU Exit) (Amendment) Regulations 2022; and what is the total value of those penalties.

Photo of James Cartlidge James Cartlidge The Exchequer Secretary

HM Treasury, through the Office of Financial Sanctions Implementation (OFSI), is the UK’s competent authority responsible for the implementation of financial sanctions. It is therefore the body responsible for civil enforcement of financial sanctions breaches.

The details of civil monetary penalties issued by OFSI are published on GOV.UK here [].

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