The new rules are set to go in effect when the UK leaves the European Union on 31 December at 11 p.m. GMT.

The United Kingdom’s transition period for withdrawing from the European Union is scheduled to end on 31 December 2020 at 11 p.m. GMT. Subject to certain exceptions (particularly regarding Northern Ireland), the UK will at that point no longer automatically implement EU laws — with important ramifications for the UK’s sanctions and export controls regimes.

This Client Alert sets out top 10 takeaways for how the end of the transition period will affect sanctions and export controls in the UK.