New UK Sanctions Regime Presents More Chances for Collaboration, US Says
The Treasury Department applauded the United Kingdom’s enactment of its new anti-corruption sanctions regime this week (see 2104260019), saying the authority will allow the two countries to work together more closely on global sanctions issues. “U.S. sanctions are more likely…
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to compel changes in behavior and disrupt threatening activities when pursued in concert with our allies,” Treasury said April 26, adding that sanctions can “incentivize businesses to adopt a more proactive corporate risk and due diligence approach.” But the agency also stressed that sanctions are just “one tool,” and the U.S. will continue to provide guidance and “engagement” to industry. “The United States looks forward to continuing our collaboration with the United Kingdom and other allies to defend human rights, support good governance, and impose tangible and significant costs on those who engage in corruption,” Treasury said.