Update on sanction policies if no Brexit deal by March 2019
The United Kingdom’s Foreign and Commonwealth Office published a new update on what the sanction policies will be if there is no Brexit deal in place by March 2019. This update is a part of the ‘technical notices’ series that the government has published in order to prepare businesses and citizens for the upcoming Brexit deadline.
The notice once again stresses that it is unlikely that the UK leaves the EU without an agreement in place, given ‘the mutual interests of the UK and the EU in securing a negotiated outcome.’
The update states that if ‘no deal’ is reached by March 2019, then:
UN sanctions will be implemented in UK domestic law.
EU sanctions will be carried over into UK law, and new legislation (new regulations) will be made under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act), allowing the UK to implement, update, and lift sanctions.
New updates published by the UK's government regarding the impending Brexit agreements can be found on PST.AG’s blog post.
To read the Sanctions Act please click here.
To read the full notice please click here.