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SMB: Sanctions Update

6 Sep 2022 11:42 | Anonymous

Iraq Regime

  • Commission Implementing Regulation (EU) 2022/1464 of 2 September 2022 amending Council Regulation (EC) No 1210/2003 concerning certain specific restrictions on economic and financial relations with Iraq

https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32022R1464&from=EN

The European Commission on 02 September 2022 decided to amend Annex IV to Regulation (EC) No 1210/2003 by deleting an entry from the list of natural and legal persons, bodies or entities associated with the regime of former President Saddam Hussein covered by the freezing of funds and economic resources and by a prohibition to make funds or economic resources available.

For further information please consult the above link.


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 hereunder:

http://www.justiceservices.gov.mt/DownloadDocument.aspx?app=lom&itemid=8835&l=1

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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