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The Department of Business and Trade has issued a press release confirming that the new Office of Trade Sanctions Implementation is now functional, as of 10th October 2024.
The new office sits within the DBT.
Whereas HMRC regulates Sanctions relating to the export of goods across UK borders, the OTSI has been established to both regulate and support the complex area of trade sanctions compliance as a working practice for UK businesses involved in the trade in professional services.
Their regulatory influence reaches beyond UK borders to UK businesses and UK traders abroad, not just based and working from the UK
OTSI is afforded its regulatory powers through the implementation of The Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 (link below).
The Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 (legislation.gov.uk)
Further detailed information can be found in the S&H Spotlight Article, published in September:
A Spotlight On: How suspected breaches of trade sanctions are assessed by the Office of Trade Sanctions Implementation (OTSI)
A link to the OTSI website with OTSI contact links is below:
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This half-day session highlights the importance of understanding embargoes and sanctions, focusing on UK regulations and the growing sanctions on Russia. It reviews current financial sanctions managed by OFSI and the severe consequences of non-compliance, including fines, reputation loss, and criminal charges. The course emphasises the need for exporters to comply with embargoes and sanctions. It identifies areas where companies can unintentionally become non-compliant, such as end-use, end-user, and transit codes.
Focus On: Preparing for an Export Control Audit
Trading goods worldwide can expose companies to greater risk & cost in the form of lost goods or unnecessary delays or disputes. The simple allocation of responsibilities in the supply chain can help, which is what Incoterms® Rules have been doing since 1936. Generally, Incoterms® are misunderstood and frequently misused; ensure you are using them correctly by joining us on this full-day interactive course.
The UK Export Licensing System
This course combines the key elements of the UK Export Licensing System into a practical session. By reviewing the UK strategic export control lists and the legislation surrounding financial sanctions, delegates will gain a comprehensive foundation of knowledge to support future learning and understand internal requirements.
Beginners Guide to Export Licensing Controls
Whether at the start of your learning pathway or as a standalone training session, this course will begin your journey to understand export licensing controls and how they work. Covering essential elements gives delegates an excellent springboard to understand what goods, technology or software could be controlled and review business-relevant areas in more detail.
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