Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how the Office for Financial Sanctions Implementation works with (a) other Government departments and (b) UK regulators to ensure compliance with sanctions; and with which organisations that body has Memorandums of Understanding.

OFSI engages extensively and regularly with other Government departments and regulators involved in relevant work, to ensure a consistent cross-Government approach and aligned sanctions messaging.

This covers a broad range of areas, including (but not necessarily limited to):

• international sanctions policy
• trade sanctions/embargoes (including enforcement)
• transport sanctions (including enforcement)
• travel bans
• financial sanctions enforcement
• the UK financial system
• regulated sectors (such as the legal, accountancy or charity sectors)

Its engagement with the above includes information-sharing (with information both received and provided) under the provisions of the Sanctions and Anti-Money Laundering Act 2018 and associated relevant legislation.

OFSI has a number of Memoranda of Understanding with partner organisations. However, I am unable to provide details of those currently in force or being negotiated between OFSI and other Government departments/partner agencies and regulators. The provision of such information could jeopardise ongoing investigations.