An agency will appear in the UK that will monitor the implementation of sanctions against Russia

A special government body will appear in the UK that will monitor compliance with sanctions imposed against Russia. This was announced by British Minister of Industry and Economic Security Nusrat Ghani.

According to her, the Office of Trade Sanctions Implementation (OTSI) will begin its work in early 2024. The agency will help companies comply with sanctions legislation, investigate cases of sanctions violations and, if necessary, refer cases for consideration to the Tax and Customs Administration.

“Today’s announcement will help us in this [effort to comply with the sanctions regime] and send a clear message to those who break the rules that there is nowhere to hide,” Ghani said.

In November, the Financial Times wrote that as of May 2023, 127 British companies were found not to comply with sanctions imposed against Russia.

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