UK Sanctions Shake-Up: OFSI List to Close as UKSL Becomes Sole Source
21/10/2025
On 13 October 2025, HM Treasury (HMT) published new guidance to help businesses prepare for a major change in how UK sanctions are published and accessed.
From 28 January 2026, the UK Sanctions List (UKSL) maintained by the Foreign, Commonwealth & Development Office (FCDO) will become the sole official source for UK sanctions designations.
The Office of Financial Sanctions Implementation (OFSI) will retire its Consolidated List of Asset Freeze Targets[1][2].
Background: Two Lists Become One:
Currently, UK sanctions designations are published in two separate lists:
- The UK Sanctions List (UKSL), managed by the FCDO
- The OFSI Consolidated List, managed by HM Treasury
This dual-list system has long been used for sanctions screening and compliance. However, following a cross-government review and industry feedback, the UK government has decided to consolidate the system to reduce duplication, streamline compliance, and improve data accuracy[2].
Key Date: 28 January 2026
From this date:
- The UKSL will be the only list detailing UK sanctions designations.
- The OFSI Consolidated List and its search tool will no longer be updated.
- Firms must update their systems and policies to reflect the UKSL as the authoritative source.
Who Is Affected?
This change impacts:
- Banks, asset managers, insurers
- Professional services firms
- FinTechs, crypto platforms, and trade/commodity firms
- Third-party screening vendors
- Non-UK businesses screening for UK exposure
What Firms Should Do Now
HMT recommends that firms:
- Switch to the UKSL immediately for sanctions screening
- Update internal policies and compliance systems
- Ensure staff are briefed on the transition
- Subscribe to FCDO/OFSI update alerts
The UK government has published guidance to support the transition[1].
References
https://natlawreview.com/article/time-switch-uk-moves-single-sanctions-list-january-2026
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