💨 Abstract

Britain has launched a new trade sanctions unit to penalize companies that fail to comply with restrictions on exporting services to Russia. The Office of Trade Sanctions Implementation (OTSI) will support businesses in adhering to sanctions, and has powers to fine and publicly identify firms that breach them. The OTSI will focus on enforcing sanctions on professional and business services, while the export and import of goods will remain the responsibility of existing units.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖