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SMB: Ukraine, DPRK, & Myanmar/Burma Sanctions Update

22 Apr 2022 12:00 | Malta Institute of Accountants (Administrator)


  • Ukraine Regime

Corrigendum to Council Regulation (EU) 2022/394 of 9 March 2022 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine (Official Journal of the European Union L 81 of 9 March 2022)

On page 3, in Article 1, in the amendments to Regulation (EU) No 833/2014, points (7) and (8):

‘(7) Annex VI is amended is accordance with Annex I to this Regulation;

(8) Annex IX is amended is accordance with Annex II to this Regulation;’,

Read more.


Council Implementing Regulation (EU) 2022/658 of 21 April 2022 implementing Regulation (EU) No 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine

The Council considers that two individuals should be added to the list of persons, entities and bodies subject to restrictive measures set out in Annex I to Regulation (EU) No 269/2014 for their role in undermining or threatening the territorial integrity, sovereignty and independence of Ukraine and for benefitting from Russian decision-makers responsible for the annexation of Crimea or the destabilisation of Eastern Ukraine. Regulation (EU) No 269/2014 should therefore be amended accordingly.

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Council Decision (CFSP) 2022/660 of 21 April 2022 amending Decision 2014/145/CFSP concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine

The Council considers that two individuals should be added to the list of persons, entities and bodies subject to restrictive measures set out in the Annex to Decision 2014/145/CFSP for their role in undermining or threatening the territorial integrity, sovereignty and independence of Ukraine and for benefitting from Russian decision-makers responsible for the annexation of Crimea or the destabilisation of Eastern Ukraine. Decision 2014/145/CFSP should therefore be amended accordingly.

Read more.


  • DPRK Regime

Council Implementing Regulation (EU) 2022/659 of 21 April 2022 implementing Regulation (EU) 2017/1509 concerning restrictive measures against the Democratic People’s Republic of Korea

In view of the continued ballistic-missile-related activities carried out by the DPRK, in violation of and with flagrant disregard for the relevant UNSCRs, eight individuals and four entities should be included in the lists of natural and legal persons, entities and bodies subject to restrictive measures in Annexes XV and XVI to Regulation (EU) 2017/1509. Annexes XV and XVI to Regulation (EU) 2017/1509 should therefore be amended accordingly.

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Council Decision (CFSP) 2022/661 of 21 April 2022 amending Decision (CFSP) 2016/849 concerning restrictive measures against the Democratic People’s Republic of Korea

In view of the continued ballistic-missile-related activities carried out by the DPRK in violation of and with flagrant disregard for the relevant UNSCRs, eight individuals and four entities should be included in the lists of natural and legal persons, entities and bodies subject to restrictive measures in Annexes II and III to Decision (CFSP) 2016/849. Annexes II and III to Decision (CFSP) 2016/849 should therefore be amended accordingly.

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  • Myanmar/Burma Regime

Council Implementing Regulation (EU) 2022/662 of 21 April 2022 implementing Regulation (EU) No 401/2013 concerning restrictive measures in view of the situation in Myanmar/Burma

The Council has reviewed the list of natural and legal persons, entities and bodies subject to restrictive measures set out in Annex IV to Regulation (EU) No 401/2013. On the basis of that review, the information concerning nine listings should be amended. Regulation (EU) No 401/2013 should therefore be amended accordingly.

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Council Decision (CFSP) 2022/669 of 21 April 2022 amending Decision 2013/184/CFSP concerning restrictive measures in view of the situation in Myanmar/Burma

On the basis of a review of Decision 2013/184/CFSP and in view of the continuing grave situation in Myanmar/Burma, including actions undermining democracy and the rule of law as well as serious human rights violations, the restrictive measures in place should be renewed until 30 April 2023. Based on the updated information received, the entries for nine persons included in the list of natural and legal persons, entities and bodies subject to restrictive measures set out in the Annex to Decision 2013/184/CFSP should be amended. Decision 2013/184/CFSP should therefore be amended accordingly.

Read more.



Please be reminded that all EU/UN sanctions are directly applicable under Maltese law under the National Interest (Enabling Powers) Act, cap 365 of the Laws of Malta as linked here.

Should any of your clients be a person or entity who is listed under UN/EU or national sanctions or who is directly or indirectly owned or controlled by a listed person or entity, the freezing measures mentioned under article 17 of the Act apply.

The Sanctions Monitoring Board is to be informed immediately of the actions that have been taken in relation to the assets of such listed persons.

The Sanctions Monitoring Board may be contacted on sanctions.mfea@gov.mt on any issue relating to sanctions.


Please find below links to the:

EU Financial Sanctions Database

Consolidated UN Sanctions List

EU Sanctions Map

Sanctions Monitoring Board

               
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