In the 2015 UK Budget, delivered on Wednesday 18 March, the UK government announced plans to “review the structures within HM Treasury for the implementation of financial sanctions and its work with the law enforcement community to ensure these sanctions are fully enforced, with significant penalties for those who circumvent them”. This review will focus on how the UK can implement and enforce financial sanctions effectively in its national security interests, taking into consideration similar structures in other jurisdictions, such as the US Treasury Office of Foreign Assets Control.
