UK's Sanctions Regime Requires Unique Compliance Efforts

Law360 (November 16, 2020, 6:11 PM EST) -- The U.K.'s transition out of the EU will end on Dec. 31, and, following its departure, the U.K.'s sanctions regime will come into effect. The domestic sanctions regime will transpose those restrictions that are currently imposed by the EU sanctions regime.

The U.K. regime will initially be largely similar, but there will be important differences that U.K. businesses and individuals will need to be prepared for. These include changes to Russia-specific sectoral sanctions and, more broadly, to restrictions on financial services and brokering services and to the asset freeze sanctions framework.

Additional divergences may also emerge in the future in line...

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