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SMB: Updates to Applicable Sanctions

27 Feb 2023 14:00 | Malta Institute of Accountants (Administrator)

Mali Regime

• Council Implementing Regulation (EU) 2023/428 of 25 February 2023 implementing Article 12(2) of Regulation (EU) 2017/1770 concerning restrictive measures in view of the situation in Mali

On 28 September 2017, the Council adopted Regulation (EU) 2017/1770. On 13 December 2021, the Council adopted Regulation (EU) 2021/2201 to give effect to Decision (CFSP) 2021/2208, which established a new framework, allowing for restrictive measures against individual and entities responsible for threatening the peace, security or stability of Mali, or for obstructing or undermining the successful completion of its political transition. In view of the continued gravity of the situation in Mali, one person should be included in the list of natural and legal persons, entities and bodies subject to restrictive measures set out in Annex Ia to Regulation (EU) 2017/1770.

Annex Ia to Regulation (EU) 2017/1770 has therefore been 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.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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