OTSI has new civil enforcement powers covering services and goods crossing third-country borders involving UK entities. It works alongside HM Revenue & Customs, which handles sanctions at the UK border. Financial services, legal providers and money services businesses are now required to report suspected sanctions breaches to OTSI.

The unit will provide businesses with guidance and tools to help them navigate sanctions. It also serves as the licensing authority for certain sanctioned services. For more information or to apply for a sanctions licence, visit gov.uk/otsi.

The press release can be found here.