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Financial services
Other sanctions regimes that include financial measures
The Department for Business, Innovation and Skills is the UK department responsible for trade sanctions.
Certain trade sanctions regimes, such as those involving an arms embargo, also include measures that place restrictions on the provision of financial assistance related to specific activities, such as military activities.
Below are details of those trade sanctions regimes in effect in the UK, which include restrictions on the provision of finance directly to the prohibited trade activities:
Lebanon
By the adoption of Resolution 1701 on 11 August 2006, the United Nations Security Council, amongst other things, prohibited the provision to any entity or individual in Lebanon of any technical training or assistance related to the provision, manufacture, maintenance or use of military equipment, with exceptions.
These specific measures were implemented in the EU by Council Regulation (EC) No 1412/2006 of 25 September 2006. The Regulation also extended the measures to include the provision of financing and financial assistance relating to military activities.
The rules on penalties applicable to infringements of the provisions of Council Regulation (EC) No 1412/2006 were implemented in the UK by The Lebanon (Technical Assistance, Financing and Financial Assistance) (Penalties and Licences) Regulations 2006 (SI 2006/2681) which came into force on 11 October 2006.
Uzbekistan
By the adoption of Council Regulation (EC) No 1859/2005 on 14 November 2005, the European Union imposed certain restrictive measures in respect of Uzbekistan. The measures include a ban on the export of equipment which might be used for internal repression and a ban on technical assistance, financing and financial assistance related to military activities, to arms and related materiel, and to equipment which might be used for internal repression.
The rules on penalties applicable to infringements of the provisions of Council Regulation (EC) No 1859/2005 were implemented in the UK by The Export Control (Uzbekistan) Order 2005 (SI 2005/3257) which came into force on 26 November 2005.
