UK putting a sanctions plan together for after Brexit, and why this is important news

The BBC report that the UK government is working on sanctions law

To start, this news isn"t anything about sanctions for the EU over Brexit, it"s not even really important news in itself.

What the UK is doing is passing law so that they can impose sanctions on foreign countries by themselves, rather than as part of the UN and (soon not to be) EU. The UK follows sanctions which are written up under EU law, so the UK will have to write the same into its own laws to effect the same sanctions after Brexit. It"s the old copy and paste process I"ve mentioned before.

What"s important to note here is the speed that the UK government is looking to pass this law through so they can comply. The gov started this process just before the election purdah kicked in last Friday, so it can be rushed through to come in front of parliament as soon as possible after the general election. That"s some 9 weeks, which is pretty speedy.

This highlights the relative ease and speed which the UK can copy EU law into its own law, which is something that could be carried across many parts of the Brexit process and negotiations. I"m not saying that everything would go through as quickly or easily but if it"s something important or big, like citizens rights or financial rules, the UK government has the ability to pull out all the stops to get it done.

It"s nothing we can trade but it"s something to watch if the market gets jumpy around certain aspects of Brexit and Britain putting things into law.

The Beeb has the full story here.

UK putting a sanctions plan together for after Brexit, and why this is important news
UK putting a sanctions plan together for after Brexit, and why this is important news
http://www.forexlive.com/feed/news
$inline_image !!! CLICK HERE TO READ MORE !!! UK putting a sanctions plan together for after Brexit, and why this is important news Forex Blog | Free Forex Tips | Forex News http://www.forextutor.net/uk-putting-a-sanctions-plan-together-for-after-brexit-and-why-this-is-important-news/