Financial Crime World

UK Tightens Sanctions Regime Against Guinea

Promoting Accountability and Justice in West Africa

In a move aimed at holding individuals responsible for human rights abuses and financial crimes accountable, the UK has reinforced its sanctions regime against Guinea. The new regulations are designed to promote accountability and justice in the West African nation.

Targeting Individuals Responsible for Human Rights Abuses

The Guinea (Sanctions) (EU Exit) Regulations 2019 have been amended to ensure that those who perpetrated violence during the 2009 crackdown on anti-government protests will face asset freezes and other penalties. The regulations also impose measures against those involved in committing human rights violations or abuses before, during, and after the violence.

Broad Effort to Promote Democracy and Human Rights

The UK government has made it clear that its sanctions regime is aimed at pressuring Guinea’s government to properly investigate the violent repression of 2009 and hold those responsible accountable. This move comes as part of a broader effort to promote democracy and human rights in the region.

Key Regulations

  • Guinea (Sanctions) (EU Exit) Regulations 2019: Amended regulations targeting individuals responsible for human rights abuses and financial crimes.
  • Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2020: Additional UK regulations imposing measures against those involved in committing human rights violations or abuses.
  • Sanctions (EU Exit) (Miscellaneous Amendments) (No. 4) Regulations 2020: Further UK regulations enforcing penalties for financial crime in Guinea.

Legacy Sanctions Regime

The Republic of Guinea (Asset Freezing) Regulations 2012 remain applicable for assets frozen prior to December 31st, 2020. EU Council Regulation (EU) No 1284/2009 remains in effect for EU sanctions applicable until the same date.

A Significant Development in West Africa

The toughening of penalties for financial crime in Guinea is a significant development in the region and highlights the UK’s commitment to promoting accountability and justice in West Africa.