IPA Insolvency Practitioner newsletter, October 2025
On 12 September 2025, HM Treasury issued a new list of financial sanctions against Russia – please ensure that AML financial sanctions checks include these updated targets.
The Office of Financial Sanctions Implementation (OFSI) consolidated sanctions list is to be closed on 28 January 2026.
As members may be aware, there are two lists for sanctions currently – the OFSI Consolidated List published by HM Treasury and the UK Sanctions List published by the Foreign, Commonwealth & Development Office. The Government has reviewed the position and industry feedback that a single list will simplify checking entities that are subject to sanctions. From 28 January 2026, the OFSI list will not be updated and new sanction designations will only appear on the UK Sanctions List.
Guidance from the Government on the change and links to the UK Sanctions List search tool can be found here.
Please ensure that you update any relevant policies and procedures to ensure that searches are undertaken from the UK Sanctions List and that these are updated prior to 28 January 2026.