Ukraine Regime

For the latest updates regarding sanctions specifically imposed under the Ukraine Territorial Integrity Regime, please follow this link.

Council Implementing Regulation (EU) 2023/806 of 13 April 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.

The Council has received new information concerning certain persons subject to restrictive measures and listed in Annex I to Regulation (EU) No 269/2014. On the basis of that information, the entries concerning 35 persons should be updated.

Regulation (EU) No 269/2014 has therefore been amended accordingly,

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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, please immediately inform the Sanctions Monitoring Board on sanctions.smb@gov.mt.

Ukraine Regime

For the latest updates regarding sanctions specifically imposed under the Ukraine Territorial Integrity Regime, please follow this link.

Corrigendum to Council Implementing Regulation (EU) 2023/429 of 25 February 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 pages 373 to 422, in the Annex, in the table under the heading ‘Entities’, entries 175 to 208 are renumbered as entries 176 to 209.

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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, please immediately inform the Sanctions Monitoring Board on sanctions.smb@gov.mt.

Subject persons (SPs) have a number of obligations under the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR), including the obligation to carry out on-going monitoring. A main aspect of on-going monitoring is that of scrutinising unusual, anomalous and suspicious transactions detected through the systemic and continuous review of customers’ transactions. When properly executed, transaction monitoring allows SPs to single out transactions that are to be reported to the Financial Intelligence Analysis Unit (FIAU), and enables them to gain deeper insights into their customers’ activities, transactional patterns and behaviour. The ultimate goal remains that of minimising the risk of illicit funds entering the Maltese economy, thus safeguarding the integrity and stability of the financial system.

While all SPs have a critical role to play in the fight against financial crime, this guidance paper focuses on the transaction monitoring requirements pertaining to institutions which process payments and similar transactions for and behalf of customers, including but not limited to, banks and other depository institutions, electronic money (e-money) institutions, payment service providers (PSPs) and merchant acquiring companies. This document provides an overview of the statutory requirements that these institutions must fulfil from a transaction monitoring perspective, and describes the optimal transaction monitoring measures and systems that such institutions should strive towards implementing in order to meet their legal obligations.

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Restrictive Measures in order to insert Provisions on a Humanitarian Exemption

Council Regulation (EU) 2023/720 of 31 March 2023 amending certain Council Regulations concerning restrictive measures in order to insert provisions on a humanitarian exemption

The European Union is able to impose restrictive measures, including the freezing of funds and economic resources against designated natural or legal persons, entities and bodies. Council Regulations give effect to those measures.

On 9 December 2022, the United Nations Security Council (UNSC) adopted United Nations Security Council Resolution (UNSCR) 2664 (2022). Paragraph 1 of that Resolution introduces an exemption from the sanctions in the form of asset freezes imposed by the Security Council or by its Sanctions Committees for humanitarian assistance and other activities that support basic human needs, applicable to certain actors. For the purposes of this Regulation, paragraph 1 of UNSCR 2664 (2022) is termed the ‘humanitarian exemption’.

On 31 March 2023, Council Decision (CFSP) 2023/726 was adopted to give effect to UNSCR 2664 (2022) in Union law.

UNSCR 2664 (2022) emphasizes that where the humanitarian exemption to the asset freeze measures conflicts with previous resolutions, it is to supersede such previous resolutions to the extent of such conflict. However, UNSCR 2664 (2022) clarifies that paragraph 1 of UNSC resolution 2615 (2021) remains in effect.

The Council considers that the humanitarian exemption to the asset freeze measures pursuant to UNSCR 2664 (2022) should also apply in cases where the Union decides to adopt complementary measures concerning the freezing of funds and economic resources in addition to those decided by the UNSC or its Sanctions Committees.

Council Regulations (EC) No 881/2002, (EC) No 1183/2005, (EU) No 267/2012, (EU) No 747/2014, (EU) 2015/735, (EU) 2016/1686, (EU) 2016/44, (EU) 2017/1509 and (EU) 2017/1770 have therefore been amended accordingly.

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Ukraine Regime

For the latest updates regarding sanctions specifically imposed under the Ukraine Territorial Integrity Regime, please follow this link.

Council Implementing Regulation (EU) 2023/722 of 31 March 2023 implementing Regulation (EU) 2023/427 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilizing the situation in Ukraine

On 25 February 2023, the Council adopted Regulation (EU) 2023/427, which amended Council Regulation (EU) No 833/2014 and introduced further restrictive measures to suspend the broadcasting activities in the Union, or directed at the Union, of certain media outlets. Those outlets are set out in in Annex V to Regulation (EU) 2023/427. Pursuant to Article 1, point (20), of Regulation (EU) 2023/427, the applicability of such measures in respect of one or several of those media outlets is subject to the adoption of implementing acts by the Council.

Having examined the respective cases, the Council has concluded that the restrictive measures referred to in in Article 2f of Regulation (EU) No 833/2014 should apply from 10 April 2023 in respect of the entities set out in Annex V to Regulation (EU) 2023/427.

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Iraq Regime

Commission Implementing Regulation (EU) 2023/723 of 30 March 2023 amending Council Regulation (EC) No 1210/2003 concerning certain specific restrictions on economic and financial relations with Iraq

Annex IV to Regulation (EC) No 1210/2003 lists 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.

On 27 March 2023, the Sanctions Committee of the United Nations Security Council decided to remove one natural person from the list of persons and entities to whom the assets freeze should apply.

Annex IV to Regulation (EC) No 1210/2003 have therefore been amended accordingly.

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Iran Regime

Council Implementing Regulation (EU) 2023/721 of 31 March 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 the basis of a review of Council Decision 2011/235/CFSP, the Council has decided that the restrictive measures set out therein should be renewed until 13 April 2024.

The entry concerning one person designated in Annex I to Regulation (EU) No 359/2011 should be removed from that Annex. The Council has also concluded that the entries concerning 18 persons and three entities included in Annex I to Regulation (EU) No 359/2011 should be updated.

Annex I to Regulation (EU) No 359/2011 has therefore been amended accordingly.

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Belarus Regime

• Corrigendum to Council Implementing Regulation (EU) 2023/419 of 24 February 2023 implementing Article 8a of Regulation (EC) No 765/2006 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 ‘Identifying information’ heading of entry 125 on page 31 has been amended as follows:

for:

‘DOB: 9.5.1958’,

read:

‘DOB: 9.3.1958’.

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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.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

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.

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

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,

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