The Office of Financial Sanctions Implementation (OFSI), part of. HM Treasury, has published Frequently Asked Questions (FAQs), a new form of additional guidance to help enforce financial sanctions in the United Kingdom.
“We strongly recommend reviewing FAQs alongside our existing guidance and legislation,” said OFSI. “For specific cases, we advise seeking independent legal advice,” OFSI stressed.
A section of the new guide provides answers to questions about sanctions against Russia. For example: Do the Regulations prohibit the payment of dividends to designated persons? I own shares in a designated person. Can I sell those shares?
The Office of Financial Sanctions Implementation (OFSI) was established in March 2016 and is part of HM Treasury. OFSI works to improve understanding, implementation and enforcement of financial sanctions in the United Kingdom.
