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https://otsi.blog.gov.uk/2024/10/21/navigating-trade-sanctions-with-guidance/

Navigating trade sanctions with guidance

Posted by: , Posted on: - Categories: Trade Sanctions

At the Office of Trade Sanctions Implementation (OTSI), we recognise that trade can be a complex area, particularly when it comes to understanding and complying with trade sanctions.  Our goal is to equip UK businesses with up-to-date knowledge that enables them to navigate this challenging landscape successfully. 

OTSI was established to strengthen the UK’s implementation and enforcement of trade sanctions so that they can be as impactful as possible. OTSI is here to support businesses be confident in meeting their obligations under the UK’s trade sanctions regime. We will help them do so by issuing guidance and engaging with businesses. 

Our website features a library of materials, including detailed guidance on OTSI’s approach to enforcement and licensing, amongst other useful information.  

Guidance 

Currently available on the OTSI website is guidance on several different topics. 

In addition to the statutory guidance on The Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024, we provide clear and accessible guidance and tools on the following: 
our enforcement approach  

  • monetary penalties 
  • appealing a monetary penalty 
  • mandatory reporting 
  • information requests 
  • how to report a suspected breach 
  • applying for a trade sanctions licence 

A dynamic resource 

Our guidance is regularly reviewed and kept up to date. We invite feedback from users on where we can improve and supplement our guidance.  

We encourage businesses to make use of our updates. Monitor our website and blogsite to stay up to date about important changes that may impact you. This proactive approach can help businesses remain compliant and mitigate potential risks. 

Support and engagement 

In addition to providing written resources, OTSI continues to attend conferences and meet with stakeholders to help businesses enhance their understanding of trade sanctions compliance. These interactive sessions encourage dialogue and allow us to address specific challenges faced by participants. 

Our engagement efforts will foster open communication between OTSI and the business community. We believe that empowering businesses with knowledge is essential for ensuring compliance and maintaining the effectiveness of sanctions.  

By providing clear, accessible guidance and actively engaging with businesses, we aim to promote an environment where companies can thrive while adhering to sanctions obligations. 

Visit us online 

We invite UK businesses to explore the resources available on our website and to take advantage of our engagements.  

Use our contact form for any enquiries. We encourage businesses and individuals to reach out to us with any questions.   

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