I have today laid before Parliament, under the powers of the Sanctions and Anti-Money Laundering Act 2018, the Global Anti-Corruption Sanctions Regulations 2021.
The sanctions regime established by these Regulations seeks to prevent and combat serious corruption around the world by allowing for asset freezes and travel bans to be imposed on individuals or organisations involved in serious corruption. It is a smart tool allowing the Government to target corrupt actors and their enablers. It will prevent those responsible from entering the UK or laundering their ill-gotten assets here. These sanctions will help to ensure that the UK is not a safe haven for those involved in serious corruption, including those who profit from it.
The Global Anti-Corruption sanctions regime will stand alongside the Global Human Rights sanctions regime and give the UK an additional, powerful device to prevent and combat serious corruption around the world.
Today, I will also give an Oral Statement to set out the new sanctions regime and publish the first persons to be designated under it.