Sanctions bill planned to cut funding for terrorists

Stronger powers to cut off funding for terrorists by freezing their assets and blocking access to bank accounts will form part of the Government’s plans to introduce the UK’S own post-brexit sanctions regime.

Britain currently negotiates and imposes non-united Nations international sanctions through European Union laws. The Government will introduce a Sanctions Bill to ensure it has the legal powers to bring forward restrictions on foreign countries after the UK’S withdrawal from the EU.

It will include additional powers to ensure ministers can freeze terrorists’ assets more easily.

To do so at the moment the Government must “reasonably believe” a person is, or has been, involved in terrorism and that freezing their assets is necessary to protect the public.

Economic Secretary to the Treasury Stephen Barclay said: “Our proposals will make it easier to impose sanctions on those that present a threat to our security.”