House of Commons paper on post-Brexit sanctions
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The House of Commons Library published a Briefing Paper on the “The future of sanctions.”
The paper considers the consequences of the new Sanctions and Money Laundering Act 2018 which provides the UK with its own powers to impose sanctions, separate from the EU. Given that the UK was the driving force behind many EU sanctions and consistently pushed for tougher sanctions, it is expected that the UK will impose additional sanctions and there will be increases in litigation under the new system. However, whilst the new Act more closely resembles that of the USA’s sanctions framework, the UK’s interests are still expected to be closer to those of the EU’s. The future of sanctions is therefore unclear and difficult to predict.
Inter alia, the briefing paper summarises the new UK sanctions framework, potential alignment with the EU or US, secondary sanctions, the strength of EU sanctions after Brexit, a possible decline in international coordination, human rights/Magnitsky style sanctions and the negative impact of sanctions.