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Post-Brexit, new U.K. sanctions laws and regulations needed

Paul Hodgson | January 17, 2018

In April last year, the U.K. parliament suddenly realised that – even with the Great Repeal Bill – if new sanctions were imposed on a country by the U.N., it had no legislation to deal with introducing or complying with such sanctions. A White Paper was hurriedly put together, and in August, the Sanctions and Anti-Money Laundering Bill was introduced to the House of Commons. On 18 October, the same bill was introduced to the House of Lords. Which is where it still is, having reached the second committee stage by mid-December. The report stage, a further chance to examine the bill and make changes, is scheduled to begin on 15 January this year.

But why doesn’t Britain already have sanctions regulations? The U.K. currently uses European law to implement sanctions, regardless of whether they originated at the U.N. or the EU. The EU currently imposes some 30 sanction regimes, of which about half come from the U.N., for example, restrictions against people, institutions and trade... To get the full story, subscribe now.