Trading restrictions imposed by the United Kingdom
European Union sanctions will no longer apply in the UK after 11pm on 31 December 2020.
Guidance: Sanctions Policy after 31 December 2020
According to the the guidance the UK’s sanctions regulations include:
- the purposes of the sanctions regime (what the UK hopes will be achieved through imposing sanctions)
- the criteria for sanctions to be imposed on a person or entity
- the type of sanctions, such as trade and financial sanctions
- details of exemptions that may apply, such as exemptions which allow people to trade with a certain country
- that would otherwise be prohibited by the regulations
- how the government will enforce sanctions
- other rules, such as circumstances in which information about sanctions may be shared
Information on sanctions regimes established under the Sanctions and Anti-Money Laundering Act 2018 which are currently in force or will come into force at the end of the transition period can be found under the UK sanctions regimes under the Sanctions Act.
The guidance provides financial sanctions guidance for entities and individuals which operate in, or with, the maritime shipping sector, especially those involved in areas that may be subject to UK financial sanctions restrictions, including the handling of goods.