RegRally Insights: Sanctions Essentials, March 2024

Welcome to our monthly newsletter on Sanctions, which is dedicated to everyone who wants to understand the latest trends and developments, get tips from our experts, and deepen their knowledge.

We wish you a good read!

EU Council Imposes Sanctions on Guatemala Officials for Democracy Breaches

The EU Council has sanctioned five Guatemalan officials, including the Attorney General and three public prosecutors, for undermining democracy and the rule of law, freezing assets and imposing travel restrictions as part of measures to support democracy and peaceful power transfer. Read more

?

EU Welcomes Alignment of Countries in Imposing Sanctions Against Threats to Ukraine

The EU High Representative announced that on December 18, 2023, the EU Council's decision to impose restrictive measures against Russia for its aggression towards Ukraine was supported by candidate countries and EFTA members, resulting in 147 new entries on the sanctions list and clarifications on targeting criteria and retention rules. Read more

?

EU Introduces Humanitarian Exception to Terrorism Sanctions

The Council of the EU has approved a 12-month humanitarian exception to the asset freeze measures within the EU's restrictive measures against terrorism. This decision permits certain humanitarian actors, as specified by UN Security Council Resolution 2664 (2022), and certified organisations to conduct transactions with listed persons without prior authorisation, ensuring continuity of humanitarian aid while aligning with international standards and respecting international law in EU sanctions policy. Read more

?

EU Affirms Support for Democracy and Rights in Belarus

The EU Council's conclusions reaffirm unwavering solidarity with Belarusians in pursuing a free, democratic nation, condemning human rights violations and actions undermining national identity. Targeted sanctions against the Lukashenko regime remain, with further measures possible, while the EU pledges 3 billion euros to support democratic reforms and resilience in Belarus. Read more

?

Financial Intelligence Agencies Issue Advisory on Suspected Illegal Exports to Russia

Following Russia's invasion of Ukraine, the Netherlands, Germany, and Canada's financial intelligence agencies collaborated to develop a joint advisory supported by US FinCEN, targeting suspicious transactions and money laundering associated with alleged illegal exports of dual-use goods to Russia. The advisory provides indicators to identify actors, products, and financial behaviours linked to illicit trade, aiming to curb violations of sanctions and export control laws. Read more

?

EU Imposes Sanctions on Individuals and Entity for Undermining Moldova's Stability

The EU Council has enforced restrictive measures against six individuals and one entity in Moldova, including a paramilitary organisation and its leader, as well as Russian intelligence officials and media heads promoting disinformation and violence. These sanctions, aimed at curbing destabilisation efforts intensified by Russia's invasion of Ukraine, signify the EU's support for Moldova's sovereignty and security, with measures including asset freezes and travel bans. Read more

?

EU Adopts 13th Package of Sanctions Against Russia for Ukraine Invasion

In response to the second anniversary of Russia's invasion of Ukraine, the EU has implemented its thirteenth package of restrictive measures targeting individuals and entities supporting Putin's regime and perpetuating the aggression. The sanctions include measures against 106 individuals and 88 entities involved in actions threatening Ukraine's territorial integrity, focusing on military sectors and individuals aiding DPRK armament supply to Russia, along with tighter import-export controls and restrictions on iron and steel imports from Russia, with the UK aligning its measures with the EU. Read more

?

EU Extends Belarus Sanctions Amid Ongoing Repression and Support for Russian Aggression

The Council of the European Union has prolonged restrictive measures against Belarus until February 28, 2025, citing the country's persistent internal repression and continued backing of Russian aggression against Ukraine. The sanctions, which include asset freezes, financial transaction bans, and travel restrictions, target individuals and entities involved in human rights violations and support for Russia, with 233 individuals and 37 entities currently listed. Additionally, Belarus faces targeted economic sanctions affecting finance, trade, technology, and energy sectors. Read more

?

We hope this information is helpful to you.

Your experienced advisor,

ECOVIS ProventusLaw.