New year, new UK sanctions regime

Susannah Cogman (+44 (0)20 7466 2580, susannah.cogman@hsf.com) is a partner, Elizabeth Head (+44 (0)20 7466 6443, elizabeth.head@hsf.com) a senior associate, and Will Merry (+44 (0)20 7466 2266, will.merry@hsf.com) an associate at Herbert Smith Freehills.

Upon the end of the Brexit transition period at 11pm on 31 December 2020, the UK ceased to implement EU sanctions. UK sanctions are now in force under the UK’s domestic sanctions regime, which is underpinned by the Sanctions and Money Laundering Act 2018 (SAMLA). Susannah Cogman, Liz Head and Will Merry of Herbert Smith Freehills look at how the EU and UK frameworks differ and consequences for compliance.