Context
OFSI has published its Annual Review 2024-25, which focuses on the effectiveness of the sanctions regime and OFSI’s work around compliance and enforcement.
OFSI’s core objective is to ensure the UK’s financial sanctions are targeted and impactful, while enabling businesses to operate with confidence and provide a growth-friendly regulatory environment.
Key points to note and next actions
During 2024-25, OFSI focused on enhancing compliance, capability, and enforcement to uphold the effectiveness of UK financial sanctions. The impact of this work has resulted in £37 billion worth of assets being reported as frozen, which is a significant increase from the £24.4 billion frozen in the previous financial year.
The full review includes information on:
- Compliance
- Capability
- Enforcement
- Annual Frozen Asset Review 2024
- Frozen Asset In-Year Reporting, February 2022 to August 2025