Britain tightens control over compliance with sanctions against Russia

Reuters reported the information.

Since Russia's full-scale invasion of Ukraine in 2022, the United Kingdom has imposed sanctions worth more than $26 billion. The new unit, called the Office of Trade Sanctions Implementation (OTSI), will support companies in complying with these measures.

Business and Trade Minister Jonathan Reynolds said that OTSI will play a key role in ensuring compliance with the sanctions and, if necessary, take decisive action against violators.

“This new unit will help ensure businesses comply with trade sanctions and take decisive enforcement action where needed so that, together with business, we can continue to exert maximum pressure on Putin's regime,” he emphasized.

The OTSI will reportedly have the powers to fine companies that have violated sanctions and to publish information about them. The new unit will also monitor compliance with sanctions in the field of professional and business services, while control over exports and imports of goods will remain with the existing structures.

The unit will also have powers to investigate UK nationals who have breached sanction rules while operating in third countries, a new power under Britain's trade sanction enforcement regime.

• On Thursday, September 26, the United Kingdom imposed sanctions on five vessels and two companies related to the export of Russian liquefied natural gas.