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<p>As the competent authority for the implementation of financial sanctions in the
UK, the Office of Financial Sanctions Implementation (OFSI), part of HM Treasury,
ensures financial sanctions are properly understood and enforced. Part of this role
involves licensing legitimate activity in relation to sanctioned individuals or entities.</p><p>OFSI
considers granting a licence if an activity falls within licensing grounds set out
in the applicable legislation and considers the relevant evidence, on a case by case
basis, before deciding whether to grant a licence. Licences are granted in strict
adherence to the applicable law.</p><p> </p><p>OFSI does not, however, comment on
individual licence applications. Where a licence has been issued by OFSI, it does
not compel any party to take any action.</p>
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