Updates to the lists promulgated by Her Majesty’s Treasury in the UK
1. The Iraq (Sanctions) (EU Exit) Regulations 2020 (S.I. 2020/707) were made under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act) and provide for the freezing of funds and economic resources of certain persons, entities or bodies involved in the former Government of Iraq and its state bodies, […]
Amendments to the Consolidated List 44 individuals and entities have been amended in the Consolidated List of Asset Freeze Targets. This follows an update to the UK Sanctions List. Amendments have been made to entries in the Belarus, Burma, Chemical Weapons, Democratic People’s Republic of Korea, Democratic Republic of the Congo, […]
HM Treasury revokes 3 CT general licences, replaces 1 On 11 January 2020, HM Treasury revoked 3 general licences which related to the provision of insurance and the payment of legal fees by third parties for counter- terrorism regimes. HM Treasury has also revoked and replaced the general licence relating […]
1. The Chemical Weapons (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/618) were made under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act) and provide for the freezing of funds and economic resources of certain persons, entities or bodies involved in the proliferation and use of chemical weapons. 2. […]
The first guidance issued since the end of the Transition Period, it explains Libya sanctions under the Libya (Sanctions) (EU Exit) Regulations 2020. In addition to a section on your garden-variety asset freezes, there are also sections on “partial asset freezes”, a special section just on the LIA (Libyan Investment […]
When I first got notice of the General License INT/2020/059 issued under the UK’s The Russia (Sanctions) (EU Exit) Regulations 2019, I thought “oh, wow! Something new and novel.” And, don’t get me wrong – there’s a lot to like in it, like the prior notification and reporting requirements. But […]
As did OFSI (I got notification of their very first post-Brexit General License at 11:48 PM London time on New Year’s Eve)! So, I decided to make a podcast episode about it… “Trust, but Verify”, Revisited walks through the bulk of the GL, as well as relevant portions of the […]
General licence – INT/2020/059 OFSI has the power to issue General Licences for country sanctions regimes under the Sanctions and Anti-Money Laundering Act 2018 (“the Sanctions Act”). On 1 January 2021, OFSI issued General Licence INT/2020/059 under Regulation 64 of The Russia (Sanctions) (EU Exit) Regulations 2019 (“The Russia Regulations”). […]
End of the Transition Period The transition period has ended. The UK is no longer implementing EU sanctions. All sanctions regimes will now be implemented through UK regulations. As a result, OFSI has updated: The consolidated list of asset freeze targets to reflect the UK designations made under Sanctions Act Regulations. […]
HM Treasury Office of FinancialSanctions ImplementationHM Treasury Guidance Bridging Document Updated 18 December 2020 On 31 December 2020 at 11:00pm the Foreign, Commonwealth and Development Office will update the UK Sanctions List on GOV.UK. This list includes details of those designated under regulations made under the Sanctions and Anti-Money Laundering […]
