Launch of the Office of Trade Sanctions Implementation The UK government is pleased to announce the launch of the Office of Trade Sanctions Implementation (OTSI), within the Department for Business and Trade, today - 10 October 2024. This new sanctions body has been established to strengthen the enforcement of trade sanctions and support businesses with compliance. It is part of the governmentâs commitment to strengthening sanctions implementation and enforcement to maximise the effectiveness of the UKâs sanctions regimes. Complementing HMRCâs trade sanctions enforcement role at the UK border, OTSI has new civil enforcement powers in relation to services as well as movement of goods across third country borders, where there is a UK nexus. Financial services firms, money services businesses and legal service providers are now required to report suspected breaches of relevant trade sanctions to OTSI. OTSI aims to support businesses properly understand and comply with UK trade sanctions through engagement and providing user friendly guidance. OTSI is also now the licensing body for the provision of services that are not ancillary to the movement of goods. To find out more about OTSI, to apply for a services sanctions licence and to report a breach, visit OTSIâs website on www.gov.uk/otsi. To see OTSI's press release | 
