If no deal… OFSI lays out guidance

EU Exit: Latest sanctions regulations   

The Sanctions and Anti-Money Laundering Act 2018 (SAMLA) will enable sanctions to continue uninterrupted when the UK leaves the EU. Regulations under SAMLA, in the form of Statutory Instruments (SIs), will transfer existing EU sanctions into UK law.

Ahead of the UK’s withdrawal from the EU, the UK Government has laid three SIs detailing sanctions regimes for Iran (HR), Burma and Venezuela. 

The UK continues to be bound by EU and UN sanctions. These SIs do not come into force on Exit Day unless the UK leaves the EU without a deal.

To facilitate implementation, the Foreign and Commonwealth Office has published statutory guidance on these regimes. OFSI has also published updated general guidance on financial sanctions for information purposes.

This guidance does not currently apply and will only become operational when the SIs come into force. This is therefore for information only.

Link:

No deal sanctions page

Updated guidance

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