Financial Crime World

Guinea Sanctions Regulations in Place After Brexit Departure

UK Implements New Regulations to Enforce Financial Sanctions Against Guinean Officials

The United Kingdom has introduced new regulations aimed at enforcing financial sanctions against individuals responsible for a violent repression incident in Guinea in 2009. This move comes as the country exits the European Union and seeks to maintain its own autonomous sanctions regime.

Background

On September 28, 2009, Guinea witnessed a violent repression incident that led to widespread human rights violations. The new regulations are designed to encourage the government of Guinea to investigate and hold accountable those responsible for the violence and subsequent abuses.

Key Features of the Regulations


  • Asset Freezes: The new regulations impose asset freezes against individuals identified as being involved in the violence and subsequent abuses.
  • Promoting Accountability: The measures aim to bring perpetrators to justice and promote accountability for human rights violations.
  • Targeting Individuals: The regulations target individuals who participated in or promoted human rights violations during and after the violence.

Updates to Existing Sanctions Regime


In addition to the new regulations, the UK has also updated its existing sanctions regime to ensure continuity after Brexit. Two new regulations have been introduced:

  • Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2020
  • Sanctions (EU Exit) (Miscellaneous Amendments) Regulation 2020

These regulations replace EU regulations that were previously applicable and ensure the UK’s sanctions regime remains effective.

Replacing Previous Legislation


The Republic of Guinea (Asset Freezing) Regulations 2012, which had been in place since 2012, is no longer applicable as of January 1, 2021. The Council Regulation (EU) No 1284/2009 has also been replaced by the new UK regulations.

More Information


For more information on the UK’s sanctions against Guinea, please visit [insert website or source].