On 21 June 2017, the Queen’s Speech (link here) set out the new legislative agenda for Prime Minister Theresa May’s Government. One element of this was the announcement of an International Sanctions Bill that will provide the UK Government with a domestic legislative framework to impose sanctions. The Bill is intended to both enable the UK’s continued compliance with international (UN) sanctions following the UK’s departure from the EU and to grant the UK the power to impose sanctions outside its UN obligations.
The Government is currently consulting on the content of this Bill. The background briefing to the speech (available here) suggests that key areas of focus will be:
- granting the Government the ability to impose sanctions;
- a procedure for individuals and organisations to challenge or request a review of sanctions imposed on them;
- exemptions for certain activities; and
- ensuring the Government has the ability to amend or pass new anti-money laundering and counter-terrorist financing regulations after the UK leaves the EU.
The Government has also promised a Trade Bill, to introduce the legislative framework for an independent trade policy following Brexit. The Bill is intended to reflect the needs of UK businesses and consumers, and to include an effective trade remedies regime, protecting UK businesses from unfair trading practices.
You can find our full press release on the Queen’s Speech here.