Trade Compliance

OFSI Imposes £300,000 Penalty on Markom Management Limited

The UK's Office of Financial Sanctions Implementation (OFSI) has imposed a £300,000 penalty on Markom Management Limited (MML) for breaching financial sanctions legislation related to the Ukraine Regulations. The penalty stems from a payment made to a designated person in February 2018.

OFSI Fines Svarog Shipping £5,000 for Sanctions Non-Compliance

The Office of Financial Sanctions Implementation (OFSI) has imposed a £5,000 monetary penalty on Svarog Shipping & Trading Company Limited for failing to respond to a regulatory request within the required timeframe. This action stems from a breach of the Russia (Sanctions) (EU Exit) Regulations 2019.

Trade Remedies Notice: Registration of Boom Lift Imports from China

The UK Department for Business and Trade has issued a notice requiring the registration of imports of boom lifts originating from China. This notice is published under the Taxation (Cross-border Trade) Act 2018 and takes effect on January 20, 2026.

Definitive Anti-Dumping Duty on Excavators from China

The UK Secretary of State for Business and Trade is applying a definitive anti-dumping duty on certain excavators originating from China. This notice details the application of the duty and related reviews.

Definitive Anti-Dumping Duty on Engine Oils and Hydraulic Fluids from Lithuania and UAE

The UK Secretary of State for Business and Trade has imposed a definitive anti-dumping duty on certain engine oils and hydraulic fluids originating from Lithuania and the United Arab Emirates. This action follows a recommendation from the Trade Remedies Authority and aims to address unfair trade practices.

Trade Remedies Notice: Registration of Hot-Rolled Steel Plates from South Korea

The UK Department for Business and Trade has issued a notice requiring the registration of imports of hot-rolled steel plates originating from South Korea. This action is taken under the Taxation (Cross-border Trade) Act 2018 and impacts importers and exporters of this specific steel product.

Trade Remedies Notice: Registration of Imports of Creamy/White Limestone from Portugal

The UK Department for Business and Trade has issued a notice requiring the registration of imports of creamy/white limestone originating from Portugal. This action is taken under the Taxation (Cross-border Trade) Act 2018.

UK General Licence for Lukoil International Business Continuation

The UK Treasury has issued a general licence allowing certain business operations involving Lukoil International and its subsidiaries to continue, despite existing sanctions. This licence is effective from November 27, 2025, and expires on February 26, 2026.

PJSC Transneft Wind Down General Licence

HM Treasury has issued a General Licence for the wind-down of transactions involving PJSC Transneft, effective February 24, 2026, and expiring April 9, 2026. This licence exempts certain acts from Russia sanctions prohibitions to facilitate divestment and transaction closure.

Maritime Mutual Re-Insurance Wind Down General Licence

The UK Treasury has issued a General Licence allowing UK Insurers and Insurance Brokers to process funds related to Maritime Mutual Re-Insurance wind-down activities. This licence is granted under the Russia (Sanctions) (EU Exit) Regulations 2019 and permits transactions for contracts agreed prior to February 24, 2026.