This statutory instrument provides an exception to prohibitions imposed by sanctions regulations implementing financial sanctions under various UN regimes.
Purpose
Exception ensures payments in respect of UK Treasury's sovereign debt products can be made when that payment would be to a person placed under UN financial sanctions.
Or to another person where the effect of making that payment is to make funds available to, or for the benefit of, a UN designated person.
Legal basis for exception is prior obligations derogation contained within UN regimes.
Amending Regulations
Instrument is made under Sanctions and anti-money laundering act 2018 to make amendments to South Sudan (sanctions) (EU exit) regulations 2019 (StIn 2019/438).
The Central African Republic (sanctions) (EU exit) regulations 2020 (StIn 2020/616).
