BCL Sanctions Round-Up: Key UK And Global Developments

This first 2026 edition considers evolving UK sanctions enforcement practice, government policy responses to sanctions evasion, and Parliamentary scrutiny of the UK's Magnitsky-style regimes.

It considers, amongst other matters, OFSI's imposition of a monetary penalty on the Bank of Scotland, the purported use of UK statutory powers to board and detain 'shadow fleet' vessels, and the parliamentary debate questioning the effectiveness of the UK's 'Magnitsky' sanctions.

Key updates include:

• Crypto-Assets and Sanctions Evasion: OFSI's announcement that it has joined the Crypto Cash Fusion Cell, a multi-agency initiative targeting the abuse of crypto-assets and associated money laundering linked to sanctions offences.