Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate his Department has made of the total value of assets that have fled the UK's jurisdiction while being investigated by the Office for Financial Sanctions Implementation for potential breaches of sanctions.
The Office of Financial Sanctions Implementation is committed to ensuring businesses and individuals comply with financial sanctions to taking firm action when they don’t, including levying monetary penalties where appropriate. It is important to note that assets are only required to be frozen after a sanctions designation has been made. After the designation, it is an offence to deal with any funds that have been frozen.