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<p>The Commercial Secretary to the Treasury, Lord Deighton, is the Minister who holds
the financial sanctions portfolio and is responsible for making decisions in relations
to terrorist asset freezes.</p><p> </p><p> </p><p> </p><p>There are three counter-terrorism
sanctions regimes in operation in the UK – the UN’s Al Qaida sanctions regime, the
EU regime targeted at non-Al Qaida terrorists external to the EU, and the UK unilateral
power to freeze under the Terrorist Asset Freezing etc. Act 2010 (“TAFA”). The Foreign
Office lead UK input to the UN and EU regimes. The Treasury relies upon advice from
law enforcement and security agencies when considering proposals to freeze the assets
under TAFA of those believed to be involved in terrorist activity. Those agencies
are best placed to judge which tools, including asset freezes, are most appropriate
to disrupt terrorist activity.</p><p> </p><p> </p><p> </p><p>HM Treasury acts to implement
asset freezes under the UN and EU regimes once regulations giving effect to these
freezes are promulgated by the EU. The FCO leads HMG work on listings under these
regimes. The Treasury administers the domestic asset freezing regime with advice from
law enforcement and security agencies who are best placed to advise on the necessity
of an asset freeze.</p><p> </p><p> </p><p> </p><p>There is a high degree of overlap
between UK and US terrorist asset freezing lists, though legislative differences mean
that it will not always be possible for UK and US listings to be an exact mirror.</p><p>
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