The UK government is to launch the Office of Trade Sanctions Implementation (“OTSI”) within the Department for Business and Trade (“DBT”), equipped with new enforcement powers that come into effect on 10 October.
“To equip the office with new civil enforcement powers, on 12 September 2024, the UK government laid a new Statutory Instrument in Parliament – The Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024. These regulations were made under the Sanctions and Anti-Money...
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