Latest news with #OFSI
The Hindu
3 days ago
- Health
- The Hindu
Free mental health support for LGBTQIA+ individuals and their family members in Madurai
To promote mental well being and create a safe space for LGBTQIA+ individuals, their friends, and family members, the Transgender Resource Centre in Madurai, in collaboration with the Omega Forum for Social Impact (OFSI), has been offering free mental health consultations from 2 p.m. to 5 p.m. every Thursday. The initiative, which began a month ago, has so far supported close to 18 individuals, with around 15 attending in person and three opting for phone-based sessions. Most of those who have sought help fall between the ages of 20 and 30. The counselling sessions are conducted by a psychological counsellor on the centre's premises . The centre offers both individual and group counselling formats, with follow up sessions arranged based on the needs of each individual. Interns associated with the centre are also eligible to avail of the service. S. Shalini, Project Manager at the Transgender Resource Centre, highlighted the prevalence of suicidal tendencies within the LGBTQIA+ community and stressed the importance of accessible mental health support. She noted that individuals who have participated in the sessions have shown visible improvement in emotional stability, with many overcoming suicidal thoughts. Common concerns raised during sessions include relationship issues, family rejection, emotional indecision, fear, confusion about identity and future, lack of peace, and insomnia. The centre encourages individuals struggling with such challenges to fix an appointment and access the free counselling services. Funded by OFSI, the programme is currently in its early phase. Plans are underway to expand its reach, particularly to rural areas. 'We hope to raise awareness by putting up posters near Primary Health Centres (PHCs) so that people in remote locations can also benefit,' said Ms. Shalini. She further emphasised the need to introduce gender related studies in schools and colleges and to sensitise teachers, which she believes will foster greater societal understanding and inclusion. Those interested in availing the counselling can visit the centre at 5, E2, E2 Street, Chinnachokkikulam, Madurai – 625002, or call 9360730317 / 9965140064 for appointments and information. (Assistance for overcoming suicidal thoughts is available on the State's health helpline 104, Tele-MANAS 14416, Sneha's suicide prevention helpline 044-24640050 and Speak2Us mental health helpline 9375493754.)
Yahoo
21-03-2025
- Business
- Yahoo
British government now holds $32.3 billion in frozen Russian assets
March 21 (UPI) -- The British government said Friday it holds $32.3 billion in frozen Russian assets, according to an Office of Financial Sanctions Implementation report. The OFSI report said the figure "includes the value of funds frozen in the U.K. as well as overseas where those funds or economic resources are subject to U.K. financial sanctions legislation." The amount has gone up by 10% in a year. "The U.K. has frozen $32 billion worth of Russian assets and working with our allies, we have deprived Russian of over $400 billion the equivalent to four years of Russia's military spending. We will continue to robustly enforce our financial sanctions as part of our wider response to Russia's barbaric invasion of Ukraine," British Economic Secretary to the Treasury Emma Reynolds said in a statement Europe has frozen roughly $216.5 billion in Russian assets as calls mount for that frozen money to be used to support Ukraine. The immobilized funds are held in Belgium by Euroclear. Belgian Prime Minister Bart De Wever told reporters Thursday evening that using frozen Russian assets for Ukraine would amount to "an act of war." In October Britain loaned Ukraine $3 billion from frozen Russian assets. In December the United States loaned Ukraine $20 billion funded by frozen Russian assets. Then-Treasury Secretary Janet Yellen said in a statement the money "will provide Ukraine a critical infusion of support as it defends its country against an unprovoked war of aggression."
Yahoo
21-03-2025
- Business
- Yahoo
£25bn Russian assets frozen by UK since start of Ukraine war, Treasury says
Some £25 billion worth of Russian assets have been frozen by the UK Government since the start of the Ukraine war, newly-released figures have revealed. A report released by the Treasury on Friday revealed the total, which accounts for all assets that have been sanctioned by the UK since February 2022 when the invasion of Ukraine began. Some 2,001 individuals and entities have been sanctioned under the regime as of March 2024, according to the Treasury. The Government department was keen to stress the impact its sanctions, as well as those of the UK's allies, were having on Russia's economy. Treasury minister Emma Hardy said: 'The UK has frozen £25 billion worth of Russian assets and working with our allies, we have deprived Russian of over 400 billion US dollars, the equivalent to four years of Russia's military spending. 'We will continue to robustly enforce our financial sanctions as part of our wider response to Russia's barbaric invasion of Ukraine.' The Treasury data comes from the Office of Financial Sanctions Implementation's (OFSI) latest annual review. Alongside tallying the total worth of sanctions, OFSI's review said it has taken steps to 'effectively drive compliance of UK financial sanctions' over the past year. It has also expanded sanctions enforcement in a bid to prevent illicit finances from slipping through the net. While figures connected to Vladimir Putin's regime have been prevented from accessing their cash and property by the sanctions, the UK and other Western nations are yet take control of assets. The seizure of assets has long been discussed as a means of paying for military aid to Ukraine, as well as rebuilding the war-torn country once fighting ceases.
The Independent
21-03-2025
- Business
- The Independent
£25bn Russian assets frozen by UK since start of Ukraine war, Treasury says
Some £25 billion worth of Russian assets have been frozen by the UK Government since the start of the Ukraine war, newly-released figures have revealed. A report released by the Treasury on Friday revealed the total, which accounts for all assets that have been sanctioned by the UK since February 2022 when the invasion of Ukraine began. Some 2,001 individuals and entities have been sanctioned under the regime as of March 2024, according to the Treasury. The Government department was keen to stress the impact its sanctions, as well as those of the UK's allies, were having on Russia's economy. Treasury minister Emma Hardy said: 'The UK has frozen £25 billion worth of Russian assets and working with our allies, we have deprived Russian of over 400 billion US dollars, the equivalent to four years of Russia's military spending. 'We will continue to robustly enforce our financial sanctions as part of our wider response to Russia's barbaric invasion of Ukraine.' The Treasury data comes from the Office of Financial Sanctions Implementation's (OFSI) latest annual review. Alongside tallying the total worth of sanctions, OFSI's review said it has taken steps to 'effectively drive compliance of UK financial sanctions' over the past year. It has also expanded sanctions enforcement in a bid to prevent illicit finances from slipping through the net. While figures connected to Vladimir Putin's regime have been prevented from accessing their cash and property by the sanctions, the UK and other Western nations are yet take control of assets. The seizure of assets has long been discussed as a means of paying for military aid to Ukraine, as well as rebuilding the war-torn country once fighting ceases.
Yahoo
20-03-2025
- Business
- Yahoo
UK elite law firm fined over €500,000 for Russian sanctions breaches
Herbert Smith Freehills (HSF), a prestigious international law firm based in London, has been fined £465,000 (approximately €556,000) by the UK's Office of Financial Sanctions Implementation (OFSI) for breaching sanctions against Russia. The firm made payments to sanctioned Russian banks following the country's invasion of Ukraine, violating the UK's strict financial measures aimed at weakening Russia's economy and military funding. In May 2022, as HSF Moscow was winding down operations, the Russian subsidiary made six payments totalling nearly £3.93 million (€4.7 million) to three Russian banks: Alfa-Bank JSC, PJSC Sovcombank, and PJSC Sberbank. However, these banks were already subject to an asset freeze under UK sanctions, meaning that no UK-regulated entity was allowed to provide them with funds or financial resources. According to the OFSI, the payments showed compliance failings, insufficient due diligence, and inadequate sanctions screening during HSF Moscow's closure. Some payments were linked to redundancy settlements for employees with accounts at the sanctioned banks, while others covered audit services and insurance products. Related EU agrees new sanctions on Russia, targeting LNG for the first time Billions on ice: What to do with Russia's frozen central bank money? 'Our commitment to robust enforcement of UK financial sanctions is steadfast. A just and lasting peace in Ukraine must be our priority, and UK financial sanctions continue to be essential to disrupting Russia's war machine and putting Ukraine on the strongest footing possible,' Emma Reynolds, Economic Secretary to the Treasury, said in an official statement. The statement also confirmed that HSF London voluntarily reported the breaches to the OFSI, meaning a 50% reduction was applied to the fine. Companies that self-disclose sanctions violations often receive more lenient penalties, as regulators encourage transparency and cooperation. However, the OFSI's public penalty notice on HSF Moscow stressed that the fine demonstrates the body's "firm commitment to pursuing financial sanctions breaches wherever they occur', regardless of an entity's size or reputation. Following the penalty, HSF London formally requested a ministerial review. A senior Treasury official then upheld the OFSI's decision, confirming that the fine was fair, proportionate, and justified under UK sanctions laws. However, the OFSI explicitly clarified that the penalty applied only to HSF Moscow and that HSF London itself was not found to be at fault. The latter remains a key international player in advising clients on financial compliance, including sanctions.
