UK prepares sanctions for Brexit
As preparation for the end of the transition period, the government of the United Kingdom has published a sanctions guidance website. This website hosts the UK sanctions list of entities designated under the Sanctions and Anti-Money Laundering Act 2018 (“Sanctions Act”). Currently, the UK only implements a global human rights sanctions regime through regulations under the Sanctions Act and EU sanctions continue to apply in the UK. When the transition period ends at 11pm on 31st December 2020 and the UK leaves the European Union, the UK sanctions list will provide details on those designated under regulations made under the Sanctions Act.
PST.AG is working to implement this new sanctions list and will notify our customers of progress and new data.