Source · Select Committees · Business, Innovation, Science and Trade Committee
Recommendation 54
54
Economy security requires not just resilience at home, but also effective deterrence of future threats.
Conclusion
Economy security requires not just resilience at home, but also effective deterrence of future threats. Improving the deterrent effect of trade sanctions and export controls requires greater transparency in enforcement outcomes. Breaches of either sanctions or export controls, even when resulting from error, are a serious matter, and businesses should not always be able to avoid the reputational harm of being publicly identified when they commit a breach. This is already recognised in the context of financial sanctions, where disclosure of breaches is already commonplace. (Conclusion, Paragraph 183)