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SMB: Updates to Applicable Sanctions

27 Feb 2023 13:30 | Anonymous

Syria Regime

• Council Regulation (EU) 2023/407 of 23 February 2023 amending Regulation (EU) No 36/2012 concerning restrictive measures in view of the situation in Syria

The Council of the European Union on 23 February 2023 decided to amend Regulation (EU) No 36/2012 by replacing the contents of Article 16a of the said Regulation to introduce an exemption to the freezing of the assets of, and to the restrictions on making funds and economic resources available to, designated natural or legal persons and entities, for the benefit of international organisations and certain defined categories of actors involved in humanitarian activities and for an initial period of six months.

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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