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SMB: Updates to Applicable Sanctions

21 Feb 2023 13:30 | Malta Institute of Accountants (Administrator)

Ukraine Regime

• Council Decision (CFSP) 2023/388 of 20 February 2023 amending Decision (CFSP) 2022/266 concerning restrictive measures in response to the illegal recognition, occupation or annexation by the Russian Federation of certain non-government controlled areas of Ukraine

On 23 February 2022, the Council adopted Decision (CFSP) 2022/266. On 6 October 2022, in response to the illegal annexation of Ukraine’s Donetsk, Kherson, Luhansk and Zaporizhzhia regions by the Russian Federation, the Council adopted Decision (CFSP) 2022/1908. On the basis of a review of Decision (CFSP) 2022/266, and in view of the Russian Federation’s continuing illegal actions against Ukraine, the restrictive measures should be renewed until 24 February 2024. Decision (CFSP) 2022/266 has been amended accordingly.

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Myanmar Regime

• Council Implementing Regulation (EU) 2023/378 of 20 February 2023 implementing Regulation (EU) No 401/2013 concerning restrictive measures in view of the situation in Myanmar/Burma

On 2 May 2013, the Council adopted Regulation (EU) No 401/2013. In view of the continuing grave situation in Myanmar/Burma, nine persons and seven entities should be added to the list of natural and legal persons, entities and bodies subject to restrictive measures in Annex IV to Regulation (EU) No 401/2013. Regulation (EU) No 401/2013 should therefore be amended accordingly.

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Iran Regime

• Council Implementing Regulation (EU) 2023/379 of 20 February 2023 implementing Regulation (EU) No 359/2011 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Iran

On 12 April 2011, the Council adopted Regulation (EU) No 359/2011. On 25 September 2022, the High Representative of the Union for Foreign Affairs and Security Policy issued a declaration on behalf of the Union deploring the widespread and disproportionate use of force by the Iranian security forces against non-violent protestors, noting that it had resulted in the loss of lives as well as a large number of injuries.

In this context, and in line with the Union’s commitment to address all issues of concern with Iran, including the human rights situation, as confirmed in the Council Conclusions of 12 December 2022, 32 persons and two entities should be included in the list of natural and legal persons, entities and bodies subject to restrictive measures in Annex I to Regulation (EU) No 359/2011. Regulation (EU) No 359/2011 has therefore been amended accordingly.

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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.mfet@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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