OFSI publishes annual sanctions review 2024-2025 – £37 billion in assets now frozen
15 October 2025
OFSI has published its Annual Review for 2024-2025. According to the review:
- The amount of frozen assets reported to OFSI increased from £24.4 billion in 2023-2024 to £37 billion in 2024-2025.
- As of May 2025, OFSI had been notified of £28.7 billion in assets frozen in connection with UK sanctions on Russia, an increase of approximately £3 billion since 2023-2024.
- At the end of 2024-2025, there were 4733 people, entities and ships on the UK consolidated list. Of these, 2113 designations were Russia-related.
- OFSI issued 19 general licences between 2024-2025, 3 more than in the previous period.
- OFSI processed 904 specific licensing decisions in 2024-2025, a decrease of 497 from the previous period.
- OFSI recorded 394 suspected breach cases in 2024-2025 and closed 214 cases. Of these, 36% were from the Financial Services sector, and approximately 20% were from the Legal and Cryptoassets sectors. 84% of the suspected breaches related to the Russia sanctions regime.
- OFSI issued 57 enforcement actions in 2024-2025, including 2 monetary penalties against Integral Concierge Services Limited and Herbert Smith Freehills.
