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<p>The Office of Financial Sanctions Implementation (OSFI) and The Department for
Business and Trade (DBT) have published extensive guidance to support industry in
complying with sanctions measures against Russia.</p><p>OFSI takes a proactive enforcement
approach and is currently undertaking a number of investigations into suspected breaches
of the oil price cap, using their legal powers to request information and working
closely with our international partners in the G7+ Coalition.</p><p>HM Revenue &
Customs is responsible for enforcing export controls on strategic goods and sanctions
and investigating potential breaches of those controls.</p><p>HMRC enforcement mechanisms
are robust and act as a deterrent against those considering circumventing sanctions
measures. They take breaches of sanctions seriously and undertake a preliminary investigation
into all credible allegations of an offence. They have improved their capacity to
investigate and enforce sanctions and are developing new capabilities to enforce sanctions
on services under criminal law. Non-compliance with UK sanctions is a serious offence
and punishable through large financial penalties or criminal prosecution.</p>
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