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Business/Financial

UK Strengthens Export Licensing System, Adds Suspension Mechanism

By Cal Biesecker

Wednesday, February 8th, 2012

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The U.K. yesterday revealed changes to U.K.export licensing would allow the immediate suspension of export licenses to countries that experience a sharp deterioration in security or stability. Foreign Secretary William Hague said: “I am pleased to report that the new suspension mechanism for UK defense exports is now in place…This new measure will ensure that export licensing policy is more responsive to rapidly changing circumstances overseas. In light of recent events in the Middle East and North Africa, this is…

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