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What are sanctions?

The UK government publishes the UK Sanctions List and this includes both trade and financial sanctions. These can change frequently amd the US, UN and EC also have their own sanctions lists

Type About
Trade sanctions The UK may impose trade sanctions that prohibit:
  • the import, export, transfer, movement, making available or acquisition of controlled items and technologies;
  • the provision or procurement of services related to items and technology
  • the provision or procurement of certain other non-financial services

The sanctions could be applied because of: the nature of the items themselves; their country of destination or origin; or the involvement of a particular individual, institution or regime.

A licence may be issued for certain activities that the trade sanctions would otherwise prohibit. 

Financial sanctions These could prevent the transfer of funds to named individuals, institutions, regimes or via specific banking networks. This means we might not be able to receive monies from customers or make payments to suppliers.

 

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