What happens if my client, customer or supplier is designated under a UK financial sanctions regime?

What are UK Sanctions?

Sanctions are non-permanent restrictions or prohibitions imposed by the UN, EU or national governments that regulate how people and companies engage with sanctions Target countries or regimes. For example, sanctions may prohibit certain types of Goods from being exported to or imported from a sanctions target country, or may identify individuals, companies or vessels in that other country with whom it is prohibited to do business.

Sanctions are an essential foreign policy tool. They can be made against countries, regimes, organisations, individuals and entities. They are intended to bring about a change in policy or activity in the target country, region, government, companies or individuals. There should, therefore, be a link between the target of the sanction and the overall foreign policy objective.

Sanctions may be classified by category, such as trade, financial, transport or immigration sanctions. This distinction is descriptive of the type of prohibition and determines which government department applies and enforces the sanctions.

For more information, see Practice