In Sept 2022. the government updated the UK financial sanctions guidance. This covers various areas; General Financial Sanctions, Maritime, Charities, Monetary, Russia and Import & Export. The full list is here. We are going to focus on this last one, Importers and Exporters Financial Sanctions. Read more to find out if you are complying.
Sanctions for import and export.
Sanctions are imposed by the United Nations, European Union, UK and other countries. They include trade sanctions, arms embargoes, and financial sanctions. Sanctions regimes are imposed for a variety of reasons such as proliferation of nuclear weapons, terrorist activity, and violation of human rights. Effective implementation and enforcement of sanctions is essential in helping to stop these actions.
Trade controls and Sanctions
Controls on the export and import of certain goods and technology, such as military goods and technology.
Controls on the provision of certain assistance and services, such as financial services, related to controlled goods and technology.
Controls on other trade related activities, such as services relating to ships and aircraft
Goods subject to export controls such as high risk or strategic exports must provide details of the appropriate licences prior to export clearance being granted. If you are not sure whether you need a licence or not, please visit this website or email: exportontrol.help@trade.gov.uk where you will find out more, and you can also call this number; +44 (0) 20 7215 4594 Export Control Joint Unit Helpline.
What are the Financial Sanctions? If you are breaching rules and regulations, you and your business may incur theses financial sanctions:
Asset freezes which restrict access to funds and economic resources.
Restrictions on dealing with various financial markets.
Restrictions to cease business of a specified type, e.g. with suspected links to terrorism
Directions to cease all business with certain sanctioned individuals or organisations
Financial sanctions may apply to individuals, entities and government bodies who may be a resident in the UK or abroad and breaching a financial sanction, will be punishable by up to seven years in prison and/or a monetary penalty. Do you want to find out more? please visit this website
Source: www.gov.uk How can we help?  
Customs Clearance: We can now process import and export customs declarations for companies of all sizes, through any port or airport. You can register your company for clearance or find out more by emailing chambercustoms@gmchamber.co.uk. Alternatively, you can complete our short online form.  
Training Courses :You can view our list of upcoming courses here.  
 
Advice and Support: For further advice on any of the above or support you require with exporting or importing, please email exportbritain@gmchamber.co.uk.  
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