The UK Parliament has approved the draft Protection against the Effects of the Extraterritorial Application of Third Country Legislation (Amendment) (EU Exit) Regulations 2019 which will transpose the EU blocking statute into UK domestic law in the event of a no-deal Brexit. The EU Blocking Regulation aims to offset the unlawful effects of third country extra-territorial sanctions on EU operators. The new UK Regulations are particularly relevant following the EU’s response to the re-imposed US…
The UK has published guidance in relation to the four UK sanctions regimes listed below. This guidance outlines the prohibitions and restrictions, the information and recording requirements, the circumstances in which a licence/authorisation may be obtained and how these sanctions will be enforced (along with the associated penalties). ISIL (Da’esh) and Al-Qaida (United Nations Sanctions) (EU Exit) Regulations 2019: link to guidance The Democratic Republic of Congo (Sanctions) (EU Exit) Regulations 2019: link to guidance…
Introduction Following the recent third rejection of the Brexit withdrawal agreement in the UK Parliament, a no-deal Brexit remains firmly on the agenda. This alert sets out some of the main sanctions and export controls issues arising from a no-deal Brexit which are likely to impact upon companies operating in the UK and EU, and provides guidance on what companies can do to prepare for this eventuality. The status of EU law post no-deal Brexit…
On 20 March 2019, the UK Treasury published guidance to assist with the implementation of and compliance with the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019 (the ‘Regulations’) (available here), in accordance with Section 43 of the Sanctions and Anti-Money Laundering Act 2018 (‘the Sanctions Act’). In summary, this guidance provides best practice methods for complying with the prohibitions and requirements imposed by the Regulations. The Regulations are aimed at furthering the prevention of terrorism in…