There is also an "export criterion", designed to ensure that currencies in the basket are those issued by IMF members or currency unions that "play a central role in the global economy", in the IMF's words.
We rigorously examine every licence application on a case-by-case basis against the international exporting criteria".
A government spokesperson said: "We rigorously examine every licence application on a case-by-case basis against the international exporting criteria and will take the current Hong Kong disturbances into account in assessing future export licence applications".
According to legal advice given to them by Matrix Chambers lawyers, Britain is in violation of a number of obligations, including its own arms exports criteria and the EU's common position on arms exports.
Prior to the above 'grouping' question the following definition was given: "In the following sustainable funds (as opposed to conventional funds) are funds that not only adhere to financial criteria (e.g., return and risk) but also consider ecological (e.g., environmental protection), social (e.g., child labor) or ethical (e.g., arms exports) criteria".
However, the UK government has not been able to clarify if the export licence criteria are being met.
It concludes: "The government is currently satisfied that extant licences for Saudi Arabia are compliant with export licensing criteria".
We rigorously examine every application on a case-by-case basis against the consolidated EU and national arms export licensing criteria.
However the UK Government has not been able to clarify if the export licence criteria are being met.
"I know that some of them are being used in Yemen, that doesn't fall foul of the export licensing criteria.
