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Written question asked by Christopher Chope (Conservative) on Wednesday, 4 March 2020, in the House of Commons. It was due for an answer on Monday, 9 March 2020 (named day). It was answered by John Glen (Conservative) on Monday, 9 March 2020 on behalf of the Treasury.

Financial Services: Iraq

Question

To ask the Chancellor of the Exchequer, what steps he is taking to ensure that (a) British citizens and (b) UK companies trading with companies in Iraq are able to obtain and use UK banks for the receipt of payments from Iraq; and if he will make a statement.

Answer

The government is committed to ensuring the UK continues to be a leading global financial centre – at the forefront of innovation, with a strong, resilient, and competitive financial sector, underpinned by world leading regulatory standards and open to global markets.

Where appropriate, the UN and the EU can impose targeted sanctions regimes. There is currently an Iraq sanctions regime, with targeted assets freezes against several individuals and entities. These regimes apply to UK businesses and citizens; details of those subject to sanctions can be found on the Office of Financial Sanctions Implementation Consolidated List of asset freeze targets at www.gov.uk/ofsi.

Secondary information

Type
Written question
Reference
25008
Session
2019-21
Grouped for answer
Yes
Subjects
Financial services Iraq Payments Overseas companies
Link
View this Written question on www.parliament.uk