Company Name:
Lishui Huanqiu Bearing Trading Co., Ltd.
Company Address:
No.11 Shiting Road, Shuige Industrial Zone,Lishui, Zhejiang,China
Contact Person: William
Email: admin@tradebearings.com
Homepage: www.asiabearings.com
Bearing B2B: www.tradebearings.com
Putting sanctions and embargoes into practice
In the UK, sanctions are administered by the Department for Business, Innovation & Skills (BIS).
Asset freezes are administered by HM Treasury, while travel bans are administered by the Ministry of Justice.
HM Revenue & Customs (HMRC) is responsible for enforcing sanctions and embargo regimes that cover import, export, or trade in goods and related activities.
How BIS administer sanctions Export Licences
Secondary legislation introduced under the Export Control Act 2002 provides licensing and enforcement powers in relation to sanctions and embargoes.
SPIRE is the BIS Export Control Organisation's (ECO) fully electronic system for processing export licence applications. Apply for an export licence on SPIRE with BIS.You can subscribe to receive the ECO's Notices to Exporters which provide updates on sanctions and other export control announcements. To register, email the ECO at web.comments@bis.gsi.gov.uk - and include your name, your company or organisation name, email address and telephone number.
For further information you can call the BIS ECO Helpline on 020 7215 4594 or email ECO.Help@berr.gsi.gov.uk.
Import Licences
BIS import licences are currently needed for certain textiles, firearms, ammunition and iron and steel. There are also prohibitions on the import of anti-personnel mines, torture equipment and certain goods from Iran and North Korea. The Import Licensing Branch (ILB) of BIS regulates these licences. Read about current requirements for ILB licences on the BIS website - Opens in a new window.
Exporting without a licence
It is a criminal offence to export, import or trade in goods that are subject to a sanctions and embargo regime without a specific licence from BIS.
It is vital that individual traders and brokers check that their goods can be exported or traded to a particular destination, as missing or incorrect licences can lead to delays, seizures, fines, penalties, and even imprisonment. Exporters and traders, particularly those who work in controlled sectors, eg defence manufacturing, must keep up to date with legislation, which is subject to change.
