On 13 December 2021, HM Treasury published guidance for the UK Sanctions List as its structure and the format is changing in February 2022. The guidance is for businesses and industry that regularly use the UK Sanctions List and the Office of Financial Sanctions Implementation (OFSI) consolidated list and need to understand the change to prepare their own systems.
The UK Sanctions List provides details of those designated under the Sanctions and Anti-Money Laundering Act 2018. The list also details which sanctions measures apply to those who have been designated, and in the case of UK designations, provides a statement of reasons for the designation.
A template of the new UK Sanctions List and OFSI Consolidated List has also been published to help prepare for the changes. There will be a 3-week period in February 2022 where the old format and new format of the lists can be viewed simultaneously before the old format of the UK Sanctions List and OFSI Consolidated List are retired.