PN140606EA

Embargo: Immediate Wednesday 14th June 2006

Contact: Owen Williams 020 7219 8659

LORDS ECONOMIC AFFAIRS COMMITTEE TO INVESTIGATE THE IMPACT OF ECONOMIC SANCTIONS

The House of Lords Economic Affairs Committee has launched an inquiry into the impact of economic sanctions.

Economic sanctions have been used extensively in the past and the UK currently applies sanctions against a number of individuals, organisations and States.

The inquiry will gather evidence on the purpose and effectiveness of economic sanctions, including financial sanctions as well as trade and commodity sanctions. It also intends to consider whether UK Government policy in this area is coherent and effective.

Commenting on the launch of the Inquiry, Lord Wakeham, Chairman of the Committee, said:

"This is a timely inquiry in view of recent political debate in Europe and the US, which suggests that there may be calls for the use of sanctions against a number of organisations and countries.

"We are keen to find out more about the purpose of economic and financial sanctions, how they work, and when they are most likely to be effective.

"The inquiry will also help us assess whether the Government has the right policies in this area."

Notes to Editors

1. A call for evidence was issued on 14 June 2006 and is available here:
http://www.parliament.uk/parliamentary_committees/lords_economic_affairs.cfm

2. The closing date for the submission of written evidence is 30 September 2006

3. The Clerk of the Economic Affairs Committee, Robert Graham-Harrison, can be reached on 020 7219 5208

4. The Members of the Committee who will conduct the inquiry are:

Lord Wakeham (Chairman)

Lord Kingsdown

Lord Lamont of Lerwick

Lord Lawson of Blaby

Lord Layard

Lord Macdonald of Tradeston

Lord Oakeshott of Seagrove Bay

Lord Paul

Lord Powell of Bayswater

Lord Sheldon

Lord Sheppard of Didgemere

Lord Skidelsky

Lord Vallance of Tummel

[ENDS]