In this article, we’ll be looking at some of the UK embargoes and sanctions which are in place right now.
In the UK, there are a number of embargoes and sanctions in place that UK businesses are expected to comply with to further its Common Foreign and Security Policy objectives.
These sanctions are implemented through the Anti-Money Laundering Act 2018 otherwise known as the Sanctions Act and provide the main legal framework for UK sanctions.
Criminal penalties can be given out from hefty fines to time in prison. In order to make sure your business is complying with sanction laws it’s important to do your research or speak to sanctions solicitors. To find out more about what sanctions and embargoes are in place in the UK now keep reading…
What are Embargoes and Sanctions?
Both of these things regulate trade between the UK and other countries and are explained as follows:
- Embargoes – An embargo is essentially a law which forbids UK traders to do business of any kind with a specific country, including the shipping or exporting of goods.
- Sanction – Sanctions place a ban on trade to a country within a certain sector, i.e weapons or medicine. There are also diplomatic sanctions whereby diplomatic ties with a country are severed and this may include the removal of embassies from that country.
Why are Embargoes and Sanctions Imposed?
These are usually put in place by the United Nations or the European Union in order to maintain or restore peace and security. Often a country such as the UK will impose embargoes and sanctions when another country has breached international laws or treaties against one or more other countries.
The objective of these is to distance from that country or cause that country hardship in response to its actions.
What Embargoes and Sanctions Are in Place For UK Traders Now?
The UK currently has embargoes and sanctions in place for a large number of countries for varying reasons and some of these include:
Russia
Prior to 2022, the UK had some standard sanctions in place for Russia. However, following Russia’s invasion of Ukraine in February 2022, the UK has introduced new sanctions, including:
- Sanctioning a number of major banks including Sberbank and Credit Bank of Moscow as well as removing some Russian banks from the SWIFT international payments system – a move designed to limit President Putin’s access to financial products. This has included sanctions against Russian Oligarchs who are currently resident in the UK.
- Sanctioning defense sector departments.
- Banning the export of some critical technologies in a bid to restrict Russia’s military-industrial development in the near future, possibly long-term depending on how long Russia’s military action continues in Ukraine.
- A plan to phase out all imports from Russian by the end of 2022, a loss of vital revenue to Russia in many sectors but particularly that of Russian oil which is a major import.
- A ban on Russian aircraft flying into UK airspace or landing in the UK and a ban on Russian ships entering UK ports. This is something which is monitored constantly in order to ensure that our ports are safe amid increased threats from Russia’s President.
Along with many other countries across the world, the UK has imposed these sanctions in a bid to convince President Putin to cease his invasion of Ukraine.
Arms Embargoes
The UK has arms embargoes in place with a number of countries meaning that military weapons may not be sold or shipped. This is extremely important as it prevents the UK from becoming a party to wars between two states by supplying one of those states with weaponry. There are 15 of these states in total including:
- Afghanistan
- Armenia
- Azerbaijan
- Belarus
- Burma
- Central African Republic
- Democratic People’s Republic of Korea
- Iran
- Lebanon
- Hong Kong
- Libya
ECOWAS Restrictions
ECOWAS restrictions are designed to limit the sale and shipping of weapons, particularly military grade weapons to West African states including:
- Benin
- Burkina Faso
- Cape Verde
- Ivory Coast
- Ghana
- Guinea
- Liberia
- Mali
- Niger and Nigeria
- Senegal
- Sierra Leone
- Togo
Transit Control
These are sanctions restricting traders from other countries from transiting, or passing through the UK. This applies to a great many countries, including:
- Argentina
- Cameroon
- Jamaica
- Morocco
- Pakistan
- Taiwan
- Uganda
- Venezuela
- Zimbabwe
These sanctions are in place in order to monitor shipments entering and passing through the UK in the interests of national security as well as protecting the UK economy.
Are UK Businesses Responsible to Comply With Sanctions?
UK businesses which deal in imports and exports have a responsibility to comply with UK embargoes and sanctions and as such, need to make themselves fully aware of such sanctions in order to avoid breaching these. It’s also worth noting that these are subject to change, for example the new 2022 sanctions against Russia.
Sanctions exist for many reasons…
Embargoes and sanctions exist to ensure that the UK remains safe for its residents as well as staying within international guidelines such as those laid out by the United Nations.
Maintaining peace between countries where possible is essential for economic reasons and for avoiding military events. Therefore, UK traders need to pay close attention to which countries they are and are not permitted to do business with.
While the new sanctions against Russia may also place restrictions on some businesses who had previously traded there, this is an essential move by which the UK is showing its solidarity with Ukraine as it experiences some incredible hardships.
Please be advised that this article is for general informational purposes only, and should not be used as a substitute for advice from a trained legal professional. Be sure to consult a lawyer/solicitor if you’re seeking advice on the Sanctions Act. We are not liable for risks or issues associated with using or acting upon the information on this site.
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