UK sanctions developments: Report on first Brexit bill published
Brexit UK Sanctions Bill

UK sanctions developments: Report on first Brexit bill published

The UK House of Lords published its report on the new UK Sanctions and Anti-Money-Laundering Bill. This Brexit bill is a reminder for traders to get prepared.

Export control developments under Brexit: UK sanctions bill status

The new UK report refers to one of the Brexit related bills announced in the 2017 Queen’s speech. The next step for the bill is the committee stage.

The new legislation will give the UK the necessary legal powers to continue implementing sanctions after Brexit and to introduce new measures against states such as North Korea and terrorist organizations including the Islamic State. 

Importantly, the bill also provides the foundations for the UK to maintain existing sanctions regimes after Brexit. Currently, these are imposed through EU law and deliver the necessary legal underpinning for the UK to decide when and how to take action against new threats.

View the full House of Lords report 

The Sanctions and Anti-Money-Laundering Bill was introduced in the UK Parliament on October 18, 2017. It is the first UK bill relating to Brexit that was introduced to the House of Lords, following a public consultation on the new measures earlier this year.

This new bill represents an important step in ensuring that the UK can continue to meet its international obligations and work with allies in tackling shared threats after the UK leaves the European Union.

At present, many of the sanctions regimes in which the UK participates operate at the EU level. The European Communities Act 1972 (ECA) is the legal basis for the domestic implementation and operation of such sanctions regimes. 

UK ministers also have authority to implement sanctions regimes that are independent of the EU, including under the Terrorist Asset-Freezing etc. Act 2010 and, in relation to sanctions imposed pursuant to United Nations Security Council resolutions, the United Nations Act 1946.

Meanwhile, much of the law applicable in the UK concerning money-laundering and terrorist financing derives from EU law, which in turn tends to reflect international standards drawn up by the Financial Action Task Force.

The new UK Sanctions and Anti-Money-Laundering Bill is intended to provide a new, long-term legal basis for ministers to make secondary legislation concerning sanctions, money-laundering and terrorist financing after Brexit. This will enable the UK to comply with its relevant international obligations but is not limited to facilitating such compliance.

Peace of mind for compliance with latest sanctions: Export controls with AEB

Need more help with Brexit trade preparations? Go to the AEB Brexit Tool Kit