Where we intend to collaborate with organisations based in high risk countries, additional due diligence work will be needed to ensure that the University has considered and mitigated risks effectively so that the collaboration can go ahead. In particular it is difficult to send money to or receive payment from certain countries. Please speak to Finance Division before making an application if you think that your collaborator country might present financial difficulties.
The FATF website gives an indicator of high risk and non-cooperative jurisdictions.
You can also check the corruption index on the Transparency International webpages.
Payments to Iran and North Korea are particularly difficult and no payments to these countries should be attempted. Payments to Cuba, Syria, South Sudan, Sudan, Venezuela and Crimea require extensive bank pre-approval of any payments.
Note: UK government sanctions against Iran were lifted in March 2017 but issues with transferring funds to Iran may still exist. The UK government has a guide to doing business in Iran. However, please note that the University is currently still unable to make financial transfers to Iran due to banking constraints.
There are also limitations for some overseas organisations regarding the receipt of funds from organisations other than their own government. Please confirm with the prospective collaborator that they are able to receive payment from the University of Oxford by bank transfer.
Funders/collaborators from different countries may face difficulties sending money to the University (e.g. because of governmental or institutional requirements, cash flow issues). To mitigate the risks of failure to receive payments, it is advised, where possible, to agree a payment plan with your funder including advance payments and/or regular reimbursements of expenses.
Funds sent to the University from Cuba, Syria, South Sudan, Sudan and Crimea may be intercepted and there is a risk that the funds will neither be returned to the sender nor received by the University.
Please consult with Treasury and speak to either Jan Smith or Sean Anderson before entering into any contracts that will involve these countries.
Please contact the Treasury team if you have concerns about the country in which your operations will be based.