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UK Plans for Magnitsky Sanctions May be Scrapped, Lawmaker Says

By Manju Manglani

A proposal that would empower U.K. officials to blacklist human rights abusers anywhere in the world and confiscate their assets may be scuppered by the government's reluctance to impose new responsibilities on banks ahead of Brexit, a British parliamentarian said Tuesday. The so-called Magnitsky amendment, which informally bears the name of a Moscow attorney who died in prison after exposing the alleged involvement of Russian officials in a $230 million tax-rebate fraud, would prohibit banks from serving any foreign official or intermediary they have "reasonable cause to suspect" benefited from human rights violations. Any property belonging to foreign politicos blacklisted...

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