The UK HM Treasury's Asset Freezing Unit ('AFU') has brought to our attention the list of the current financial sanctions in the UK.
The AFU in HM Treasury is responsible for the implementation and administration of international financial sanctions in effect in the UK, for domestic designations (principally under the Terrorism Order) and licensing exemptions to financial sanctions. There are currently 15 financial sanctions regimes in force in the UK. These include both country-based regimes e.g Iran, Burma and Zimbabwe and those directed at Al-Quaida and Terrorist Financing.
There are various statutory instruments that give effect to these financial sanctions regimes in teh UK. The legislation typically prohits the making available of funds or economic benefits/resources directly or indirectly to an individual or entity listed by the United Nations, the European Union and/or the UKas a target of finacial sanctions and requires that any funds held for or on behalf of such a target should be frozen. The legislation relating to Terrorist Financing aalso prohibits the making available of financial services, directly or indirectly to listed individuals/entities. These requirements are separate and distinct from anti-money laundering requirements and should not be confused.
Further information about the AFU and the financial sanctions in force in the UK are available from HM's Treasury's website at http://www.hm-treasury.gov.uk/fin_sanctions_index.htm