UK Sanctions under “no deal” Brexit

Office of Financial Sanctions Implementation

Technical Notice for leaving EU with ‘no deal’ 

DEXEU have released a technical notice explaining the sanctions preparations for a ‘no deal’ scenario.  

These notices set out information for businesses and citizens to understand what they would need to do in a ‘no deal’ scenario, so they can make informed plans and preparations. This does not reflect an increased likelihood of ‘no deal;’ an acceleration at this point was long-planned to ensure plans are in place by March 2019 in the unlikely scenario they are needed.

The Sanctions and Anti-Money Laundering Act 2018 (SAMLA) will give the UK the powers to impose, amend and lift sanctions once we have left the EU. 

The Prime Minister has said that we will look to transfer existing EU sanctions into UK law. This will be done through secondary legislation under the Sanctions and Anti-Money Laundering Act 2018. Much of this legislation will be laid before Parliament before March 2019 as part of preparations for a possible ‘no deal’ scenario.

Any sanctions regimes that we did not address through regulations under the Sanctions Act by March 2019 would continue as retained EU law under the EU (Withdrawal) Act 2018 for a short time until we took the UK legislation through Parliament.  

Gov.uk guidance will make clear which regulations apply to each regime, whether it is regulations made under SAMLA or retained EU law. 

As is the case now, we advise stakeholders to check the legislation and guidance that is added to gov.uk.

Link:

Technical Notice

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