International financial and trade sanctions
In addition to University policies, there are financial and trade sanctions (collectively sanctions) which may mean the University is restricted or unable to contract with organisations or individuals in certain countries. Sanctions are part of a package of measures applied by individual countries, International Organisations or Regional Bodies to fight aggression, terrorism, criminal behaviour or violations of human rights. They can be applied to:
- Countries – either subject to international sanctions (whole or part) or known to be home to particular Target Names or Specially Designated Nationals.
- Individuals and entities – may be country based or activity based. Some may be located outside of the listed countries.
- Activities – Some are not country specific, such as terrorism, narcotics trafficking or proliferation of Weapons of Mass Destruction.
Further information on the types of sanctions and the list of countries which currently have the highest restrictions placed on them is available in this Financial Advice Note.
The University has a legal obligation to comply with sanctions. To ensure research projects can be undertaken, checks need to be made on partners based overseas at application stage to ensure awarded projects can be undertaken.
- It is important that checks are undertaken before an application is submitted or an agreement is negotiated (including verbal agreements).
- If you wish to transact with any individuals or entities based in the countries listed, or have reason to believe any individuals, entities or activities relating to your project may be subject to sanctions, please contact the Treasury Team in the Finance Department before proceeding: firstname.lastname@example.org. They will check with the University's banking provider whether there are any financial sanctions which restricts the transfer of funds between the designated parties.
Information on current sanctions
Please note: Sanctions are fluid, can change without warning and may impact countries, entities and individuals not previously affected by them.
- Where there are sector specific or country wide financial sanctions or directions in place, these will be highlighted on the Office of Financial Sanctions Implementation (OFSI) website.
- There is also a list of current financial sanctions targets in the UK as designated by the United Nations, European Union and United Kingdom.
- The government sanctions website provides guidance to the approach which the OFSI takes in relation to financial sanctions.