The impact of human rights in the field of sanctions are slowly, but surely becoming a serious theme in the global trade arena. As reported earlier, Western countries are increasingly following the lead of the…
In May 2017, the Canadian Government announced that it would recommend the adoption of a Magnitsky style law that would impose sanctions on those individuals and entities responsible for massive human rights violations.
On 09 January 2017, the Obama Administration announced that it added five Russian nationals to the Magnitsky Sanctions list for human rights abuses. The move by the Obama Administration will further complicate how President-Elect Trump can ease tensions between Russia and the U.S. The most eye-catching designated individual is Aleksandr I. Bastrykin, an aide who directly reports to President Putin.
UK Parliament is to vote on a Magnitsky “Amendment,” which has been inserted into the Criminal Finances bill. The Amendment aims to curb money-laundering and terror financing. Similar to the 2012 U.S. law, the Amendment is named after Sergei Magnitsky, a Russian lawyer, turned whistle-blower, who died in 2009 after uncovering a $230m theft from the state budget by tax officials. If the amendment is adopted into law, both the UK Government and private parties could request the High Court to freeze UK assets of parties, involved or facilitating human rights violations, from profiting from gross human rights abuses in any country.