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SMB: Updates to Applicable Sanctions

28 Mar 2023 14:30 | Malta Institute of Accountants (Administrator)

Iraq Regime

On 27 March 2023, the Security Council Committee established pursuant to Resolution 1518(2003) decided to remove an entry from its Sanctions List of individuals and entities.

The following has been published in the Official Journal of the EU.

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:

SMB: Updates to Applicable Sanctions

22 Mar 2023 10:00 | Malta Institute of Accountants (Administrator)

Iran Regime

On 12 April 2011, the Council adopted Regulation (EU) No 359/2011. 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, eight persons and one entity should be included in the list of natural and legal persons, entities and bodies subject to restrictive measures set out in Annex I to Regulation (EU) No 359/2011.

Regulation (EU) No 359/2011 has therefore been amended accordingly,

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:

Updates to UNSC Sanctions

20 Mar 2023 10:00 | Malta Institute of Accountants (Administrator)

ISIL (Da’esh) and Al-Qaida Regime

On 15 March 2023, entries on the ISIL (Da’esh) and Al-Qaida Sanctions List of individuals and entities subject to the assets freeze, travel ban, and arms embargo set out in paragraph 1 of Security Council resolution 2610 (2021) were amended following the 2021 Annual Review conducted in accordance with paragraphs 90 and 91 of resolution 2610 (2021).

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:

SMB: Updates to Applicable Sanctions

15 Mar 2023 11:30 | Malta Institute of Accountants (Administrator)

Iraq Regime

Commission Implementing Regulation (EU) 2023/580 of 14 March 2023 amending Council Regulation (EC) No 1210/2003 concerning certain specific restrictions on economic and financial relations with Iraq.

On 14 March 2023 the European Commission amended Annex IV to Regulation (EC) No 1210/2003 by deleting two entries in accordance with the Sanctions Committee of the United Nations Security Council’s decision of 09 March 2023 to remove two natural persons from the list of persons and entities to whom the assets freeze should apply.

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:

SMB: Updates to Applicable Sanctions

14 Mar 2023 12:00 | Malta Institute of Accountants (Administrator)

Ukraine Regime

Council Implementing Regulation (EU) 2023/571 of 13 March 2023 implementing Regulation (EU) No 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine

On 17 March 2014, the Council adopted Regulation (EU) No 269/2014. On the basis of a review by the Council, the information concerning 171 individuals and 65 entities in Annex I to Regulation (EU) No 269/2014 should be amended. Additionally, the entries for three deceased persons, as well as two duplicate entries should be deleted from that Annex. Annex I to Regulation (EU) No 269/2014 hastherefore been amended accordingly,

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:

SMB: Updates to UNSC Sanctions

13 Mar 2023 14:00 | Malta Institute of Accountants (Administrator)

Iraq Regime

On 9 March 2023, the Security Council Committee established pursuant to resolution 1518 (2003) removed a number of entries from its Sanctions List of individuals and entities.

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:

SMB: Publication in the Official Journal

8 Mar 2023 12:22 | Malta Institute of Accountants (Administrator)

Belarus Regime

• Corrigendum to Council Decision (CFSP) 2023/421 of 24 February 2023 amending Decision 2012/642/CFSP concerning restrictive measures in view of the situation in Belarus and the involvement of Belarus in the Russian aggression against Ukraine (Official Journal of the European Union L 61 of 27 February 2023)

The introductory wording of the Annex on page 43 has been amended as follows:

for:

‘Annex I to Decision 2012/642/CFSP is amended as follows:

(1) in Table A. ‘Natural persons referred to in Articles 3(1) and 4(1)’, entries 10, 17, 20, 22, 35, 39, 41, 42, 64, 65, 71, 73, 75, 78, 85, 87, 89, 90, 123, 125 and 179 are replaced by the following:’,

read:

‘Annex I to Decision 2012/642/CFSP is amended as follows:

(1) in Table ‘A. Natural persons referred to in Articles 3(1) and 4(1)’, entries 10, 17, 20, 22, 35, 39, 41, 42, 64, 65, 71, 73, 75, 78, 85, 87, 89, 90, 104, 123, 125, 129, 131, 179 and 195 are replaced by the following:’.

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:

SMB: Publication in the Official Journal

8 Mar 2023 11:55 | Malta Institute of Accountants (Administrator)

Human Rights Regime

• Council Implementing Regulation (EU) 2023/500 of 7 March 2023 implementing Regulation (EU) 2020/1998 concerning restrictive measures against serious human rights violations and abuses

The Council of the European Union on 07 March 2023 decided to amend Annex I to Regulation (EU) 2020/1998 by adding nine persons and three entities in the list of natural and legal persons, entities and bodies subject to restrictive measures.

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:

SMB: Publication in the Official Journal

7 Mar 2023 14:30 | Malta Institute of Accountants (Administrator)

Russia Regime

• Corrigendum to Council Regulation (EU) 2023/427 of 25 February 2023 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine (Official Journal of the European Union L 59 I of 25 February 2023)

Page 11, in Article 1, point (8) has been amended as follows:

for:

‘4a. Notwithstanding the applicable rules concerning reporting, confidentiality and professional secrecy, natural and legal persons, entities and bodies, including the European Central Bank, national central banks, financial sector entities as defined in Article 4 of Regulation (EU) No 575/2013 of the European Parliament and of the Council (1)*, insurance and reinsurance undertakings as defined in Article 13 of Directive 2009/138/EC of the European Parliament and of the Council (2)*, central securities depositories as defined in Article 2 of Regulation (EU) No 909/2014 and central counterparties as defined in Article 2 of Regulation (EU) No 648/2012 of the European Parliament and of the Council (3)* shall provide, no later than two weeks after 26 February 2023, to the competent authority of the Member State where they are resident or located, and simultaneously to the Commission, information on the assets and reserves referred to in paragraph 4 of this Article which they hold or control or are a counterparty to. Such information shall be updated every three months and shall at least cover the following: …’,

read:

‘4a. Notwithstanding the applicable rules concerning reporting, confidentiality and professional secrecy, natural and legal persons, entities and bodies, including the European Central Bank, national central banks, financial sector entities as defined in Article 4 of Regulation (EU) No 575/2013 of the European Parliament and of the Council (1)*, insurance and reinsurance undertakings as defined in Article 13 of Directive 2009/138/EC of the European Parliament and of the Council (2)*, central securities depositories as defined in Article 2 of Regulation (EU) No 909/2014 and central counterparties as defined in Article 2 of Regulation (EU) No 648/2012 of the European Parliament and of the Council (3)* shall provide, no later than 2 weeks after 27 April 2023, to the competent authority of the Member State where they are resident or located, and simultaneously to the Commission, information on the assets and reserves referred to in paragraph 4 of this Article which they hold or control or are a counterparty to. Such information shall be updated every 3 months and shall at least cover the following: …’.

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: