18 Jan 2024

Maia Cohen-Lask quoted by CityA.M. on OFSI’s enforcement of sanctions in light of Russia’s invasion of Ukraine

Partner Maia Cohen-Lask, has been quoted by CityA.M. about the UK sanctions watchdog, the Office of Financial Sanctions Implementation (OFSI) concerning enforcing sanctions following Russia’s invasion of Ukraine.
Maia said, “It’s unsatisfactory,” Not only does the lack of enforcement actions mean that sanctions breaches might be going unpunished, but “the outcome is a state of uncertainty” for businesses that are trying to comply with sanctions rules. She explained that more enforcement decisions would help provide guidance to those seeking to comply, but without such implied guidance “businesses are frightened into a state of over-compliance”.
You can read the comments in full in CityA.M.