UK SANCTIONS GUIDANCE FOR USE FROM JANUARY 2021

On 30 January, HM Treasury made available a web page which tells you what you’ll need to do from 1 January 2021, saying that it will be updated if anything changes.  It contains links to 40-page general guidance on UK sanctions, and a separate 7-page guide to Russian sanctions.  It says that the Sanctions and Anti-Money Laundering Act 2018 will enable sanctions to continue uninterrupted on 1 January 2021 (i.e. after the end of the Brexit transition period). Secondary legislation under the Act will transfer existing EU sanctions into UK law.  While, during the transition period, the UK can also bring into force autonomous sanctions regimes under the Act, most sanctions regimes, for which regulations have been laid under the Act, will not come into force fully until 11pm on 31 December 2020.

https://www.gov.uk/government/publications/uk-financial-sanctions-guidance

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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