NEW UK SANCTIONS GUIDANCE

NEW UK SANCTIONS GUIDANCE

HM Treasury and OFSI continue to publish new or updated guidance for post-Brexit sanctions regimes.  These include guidance relating to –

1. The Misappropriation (Sanctions) (EU Exit) Regulations 2020, which ensure sanctions relating to the misappropriation of state funds are implemented effectively as the UK has left the EU.  This regime replaces the EU’s Egypt, Tunisia and Ukraine (Misappropriation) regimes.
2. The Unauthorised Drilling Activities in the Eastern Mediterranean (Sanctions) (EU Exit) Regulations 2020, which ensure sanctions relating to unauthorised drilling activities in the Eastern Mediterranean are implemented effectively.  This regime replaces the EU’s Turkey sanctions regime.
3. Guidance aimed at helping stakeholders navigate the Regulations that specifically apply to the Libya financial sanctions regime. It includes information on asset freezes, partial asset freezes, interest, oil aboard UN-designated ships and ownership and control.

https://www.gov.uk/government/publications/financial-sanctions-misappropriation-of-state-funds

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/949252/Libya_guidance.pdf

https://www.gov.uk/government/publications/financial-sanctions-unauthorised-drilling-activities

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