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.

OFSI Report on Vanquis Bank Limited Financial Sanctions Breach

The Office of Financial Sanctions Implementation (OFSI) issued a report against Vanquis Bank Limited (VBL) for breaching financial sanctions regulations. VBL failed to restrict access to a designated person's account for eight days, allowing fund withdrawal and transactions. OFSI deemed the breach moderately severe but not serious enough for a monetary penalty, opting for public disclosure.

Bank of Scotland Fined for Russia Sanctions Breaches

The Office of Financial Sanctions Implementation (OFSI) has imposed a £160,000 penalty on Bank of Scotland for breaches of the Russia (Sanctions) (EU Exit) Regulations 2019. The breaches involved processing 24 payments totalling £77,383.39 to or from a designated individual's account.

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.

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.

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.

Lukoil Bulgaria Entities General Licence Continuation of Business

HM Treasury has amended the General Licence concerning the continuation of business for Lukoil Bulgaria entities. This amendment extends the licence, allowing specified business operations to continue under certain conditions until February 13, 2026.