Tag Archives: United Nations

EU Amends the Scope of Sanctions Against the Central African Republic

In order to implement the UN Security Council resolution of 30 January 2018, the Council of the EU has amended the scope of the exemptions to the embargo on exports of arms to the Central African Republic (CAR). In addition, the EU has amended the criteria for designation of persons and entities under the CAR-related sanctions. (Council Decision (CFSP) … Continue Reading

EU Amends Restrictive Measures on the Democratic People’s Republic of Korea

On 8 January 2018, the EU aligned its North Korea sanctions list with part of UN Security Council Resolution 2397 adopted on 22 December 2017. Sixteen persons and one entity, the Ministry of the People‘s Armed Forces, have been added to the list of those subject to an asset freeze and travel restrictions (See Council … Continue Reading

UN Adopts New Sanctions Against North Korean Offcials and Entities

On 2 June 2017, the UN Security Council adopted new sanctions targeting 18 North Korean officials and entities as a result of North Korea’s recent ballistic missile tests. Under these sanctions, entities and people are subject to an asset freeze and travel ban in all UN countries. The EU’s implementing measures are Commission Regulation 2017/970, which amends Council Regulation 329/2007 … Continue Reading

Queen’s Speech Signals the Arrival International Sanctions Bill

On 21 June 2017, the Queen’s Speech included the International Sanctions Bill as part of the new Brexit-related draft legislation, which is designed to “support our role as a permanent member of the UN Security Council and a leading player on the world stage, by establishing a new sovereign UK framework to implement international sanctions on a multilateral … Continue Reading

UK Office of Financial Sanctions Implementation (OFSI) Publishes New Guidance on the New UK Financial Sanctions Regime

Following the coming into force of Part 8 of the Policing and Crime Act 2017, which introduces new monetary penalties for breaches of financial sanctions, OFSI has published guidance on the new regime, including: Guidance on monetary penalties for breaches of financial sanctions A response to OFSI’s consultation on the process for imposing monetary penalties … Continue Reading

UK Introduces New Monetary and Criminal Penalties for Breach of Financial Sanctions

The new Policing and Crime Act 2017 (the Act), which comes into force in April 2017, provides HM Treasury with enforcement powers to punish breaches of financial sanctions. Under the Policing and Crime Act 2017, HM Treasury has the power to impose monetary penalties if it is satisfied that a person acted in breach of … Continue Reading

New Era of UK Financial Sanctions Regime – The Policing and Crime Act 2017

On 1 April 2017, HM Treasury implemented a new US-type financial sanctions enforcement framework, The Policing and Crime Act (the Act), that can potentially fine UK and non-UK companies EUR 1 million or more for breaches of financial sanctions. Part 8 of the Act gives the Office of Financial Sanctions Implementation (OFSI), which is part of HM … Continue Reading

EU Removes Five Vessels from its North Korea Sanctions

The EU has removed five vessels from its sanctions against North Korea, implementing a UN decision to de-list them at the end of 2016. The EU had listed these vessels on its sanctions on North Korea for being operated or managed by listed entity Ocean Maritime Management Company. Commission Implementing Regulation 2017/80 amends Council Regulation … Continue Reading
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