UK SANCTION HOW AND WHY THEY ARE USED - Case study 3: Global Anti-Corruption - April 2021
On 26 April 2021, The UK GOV launched the new Global Anti-Corruption sanctions regime, a significant step forward for the UK's global leadership in combatting corruption worldwide and promoting fair and open societies.
The new sanctions regime allows the Government to impose asset freezes and travel bans on those involved in serious corruption worldwide. And It sends a message that the UK will not tolerate those individuals or the proceeds of corruption coming into our country.
The measure and regime:-
- Were taken in alliance with the US, which also announced sanctions against those involved in corruption.
- Scope is deliberately targeted, so the UK can effectively sanction corrupt actors and their enablers.
The UK GOV made immediate use of this new tool on 26 April 2021 and announced designations of 22 individuals who have been involved in serious corruption from 6 countries.
On 22 July 2021, The UK GOV took further action to combat corruption around the world and announced the second set of Global Anti-Corruption sanctions designations on five individuals involved in serious corruption in
- Equatorial Guinea,
- Venezuela and
The UK GOV will continue to pursue designations to prevent and combat severe corruption and promote our values around the world