There are currently 2 major consultations into the shape of UK economic sanctions post Brexit:
1. The Foreign & Commonwealth Office has published a white paper consulting on the legal powers it will need to be able to continue imposing and implementing sanctions once the UK leaves the EU. Its focus is on the legal powers necessary to operate UK sanctions and not on the shape of UK sanctions policy in the future or other policy issues. Comments on the questions for consultation should be sent to the FCO by 23 June 2017 (details on the consultation paper).
2. The House of Lords EU External Affairs Sub-Committee is undertaking an inquiry into UK sanctions policy after Brexit. The inquiry will hear oral evidence and take some written evidence by the end of June, and will explore the advantages and disadvantages of future co-operation between the UK and the EU on sanctions policy and how co-operation might take place, the current EU sanctions regime and how this will be transposed into UK law, and the impact of a separate UK sanctions regime on the UK’s ability to achieve its foreign policy goals. The UK Sub-Committee’s page giving information about the inquiry is here.
This follows also the call from the House of Commons Foreign Affairs Committee for the FCO to clarify by March 2018 “how the UK will impose sanctions post-Brexit, explain whether Brexit would entail changes from the current sanctions regime and analyse the costs and benefits of the possible models for future UK-administered sanctions”. This was in the Committee’s report on the UK’s relations with Russia (link here).
These follow 2 other recent UK sanctions consultations:
3. A consultation by HM Treasury’s Office of Financial Sanctions Implementation (OFSI) on its new powers to impose civil monetary penalties for sanctions breaches, which led to new guidance and a consultation response (link here).
4. A report by the House of Lords EU Justice Sub-Committee on the legality of the EU sanctions listing procedure (link here). The purpose of this inquiry was to understand why EU targeted sanctions were being struck down by the EU courts, and whether improvements could be made to the sanctions listing process, and the report makes a number of recommendations to Government (consultation response here).
Further details and links on www.europeansanctions.com