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SMB: Sanctions Update

27 Jul 2022 14:00 | Malta Institute of Accountants (Administrator)


UNSC Resolution 1718 (2006)

On 26 July 2022, the Security Council Committee established pursuant to resolution 1718 (2006) enacted the amendments to 44 entries on its Sanctions List of individuals and entities.

Read more.


Libya Regime

Council Implementing Regulation (EU) 2022/1308 of 26 July 2022 implementing Regulation (EU) 2016/44 concerning restrictive measures in view of the situation in Libya (linked here)

Council Implementing Decision (CFSP) 2022/1315 of 26 July 2022 implementing Decision (CFSP) 2015/1333 concerning restrictive measures in view of the situation in Libya (linked here)

The Council of the EU has on 26 July 2022 amended Annex III of Regulation (EU) No 204/2011 to conclude that the entry for one person, who is deceased, should be deleted and that the restrictive measures against all other natural and legal persons, entities or bodies in the lists set out in Annex III to Regulation EU (2016/44) should be maintained. In addition, the statement of reasons and identifying information for two persons have been updated.

Annex III (List of natural and legal persons, entities or bodies referred to in Article 6(2) to Regulation (EU) 2016/44 is therefore amended in accordance with the Annex to this Regulation.


Ukraine Regime

Council Amending Decision (EU) 2014/512/CFSP of 26 July 2022 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine. (linked here)

In view of the gravity of the situation, and in response to Russia’s continued actions destabilising the situation in Ukraine, the Council considers that Decision 2014/512/CFSP should be renewed for a further six months. Decision 2014/512/CFSP should therefore be amended accordingly. (linked here)

In Decision 2014/512/CFSP, Article 9(1) is replaced by the following: This Decision shall apply until 31 January 2023.


Lebanon Regime

Council Amending Decision (CFSP) 2021/1277 of 26 July 2022 concerning restrictive measures in view of the situation in Lebanon. (linked here)

On 30 July 2021, the Council adopted Decision (CFSP) 2021/1277 concerning restrictive measures in view of the situation in Lebanon. Decision (CFSP) 2021/1277 applies until 31 July 2022. Based on a review of that Decision, the restrictive measures should be renewed until 31 July 2023. (linked here)


Please be reminded that all EU/UN sanctions are directly applicable under Maltese law (without the need of any further legislation or notification) 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.mftp@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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