The Government has published new summaries covering every UK sanctions regime in a move aimed at making the rules clearer for businesses, including property agents, letting firms and other regulated professionals who must carry out checks on clients and transactions.
The updates provide a simplified overview of the prohibitions that apply under each sanctions regime, allowing users to quickly see what restrictions are in place without having to read full statutory guidance.
The summaries sit alongside existing guidance on the Government’s sanctions pages and cover both country-based regimes, such as Russia, Iran and Syria, and thematic regimes including counter-terrorism, cyber, human rights and anti-corruption sanctions.
Each summary explains the scope of the regime, who the restrictions apply to, what financial and trade sanctions may be in force, and whether additional measures such as transport, goods or services restrictions are included.
FINANCIAL SANCTIONS
Financial sanctions apply to all individuals and businesses operating in the UK, as well as UK firms working overseas, and can include asset freezes, restrictions on providing financial services and limits on dealing with designated persons or entities.
Letting agents, estate agents, conveyancers and lenders are among the sectors expected to carry out sanctions checks as part of wider anti-money-laundering duties, with the Office of Financial Sanctions Implementation able to impose penalties for breaches.
The Government said the new summaries are intended as a quick reference only and do not replace the statutory guidance or the regulations themselves, which remain the legal basis for compliance.
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