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UK Implements EU’s Venezuela Sanctions Regime

On 6 December 2017, the Venezuela (European Union Financial Sanctions) Regulations 2017 entered into force in the UK. This regulation implements Council Regulation (EU) 2017/2063 of 13 November 2017 and provides for the imposition of restrictive measures on persons or entities considered to be involved in undermining democratic principles and the rule of law, as well as violating human rights in Venezuela. On 22 January 2018, the UK Department for International Trade published a notice amending the Venezuela Regulations to take into account of the addition of seven individuals subject to the EU Venezuelan regime (as aforementioned).

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