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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:
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.
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Currently, four sulphur emission control areas (ECAs) are designated under MARPOL Annex VI. In addition, national sulphur emission control areas have been designated in some countries.
BIMCO will open its fourth local office, this time in London, at the beginning of 2021. The new office will support the organisation’s regulatory affairs activities with Dr Bev Mackenzie taking up the role of BIMCO’s permanent representative at the International Maritime Organization (IMO) from 1 February, reporting to Deputy Secretary General Lars Robert Pedersen at the head office in Copenhagen.
Access BIMCO's COVID-19 related articles and advice.