International sanctions, particularly financial sanctions binding on any person, company or entity, including practitioners such as lawyers and accountants and individual citizens, who may hold funds, financial assets and economic resources affected by the sanctions.
In most cases financial sanctions impose the duty to freeze the funds, financial assets and economic resources belonging to, owned, held or controlled by designated (listed) individuals and entities, or by individuals or entities acting on their behalf or at their direction, or by entities owned or controlled by them; and prohibit the making available of funds, financial assets or economic resources to or for the benefit of designated individuals and entities. Financial sanctions may also prohibit the provision of certain financial services and certain financial transactions or the provision of financial assistance to designated individuals and entities.
The MFSA (Malta Financial Services Authority) requires its licence holders to take note of all international sanctions as issued from time to time (including new designations of individuals and entities) and to exercise caution and vigilance in order to ensure that they do not in any way support activities, individuals or entities which are subject to sanctions or other restrictive measures.
MFSA licence holders and the public in general are encouraged to take US sanctions into consideration when conducting business activities in view of the wide ranging applicability of these measures and the risk of significant financial actions which may have serious implications on their business activities.
Countries, regimes and organisations currently affected by sanctions
- Afghanistan
- Al-Qaida
- Belarus
- Bosnia and Herzegovina
- Burma/Myanmar
- Burundi
- Central African Republic
- Crimea and Sevastopol
- Democratic Republic of the Congo
- Egypt
- Eritrea
- Federal Republic of Yugoslavia & Serbia
- Iran (human rights)
- Iran (nuclear proliferation)
- Iraq
- Ivory Coast
- Lebanon
- Libya
- Mali
- North Korea (Democratic People’s Republic of Korea)
- Republic of Guinea
- Republic of Guinea-Bissau
- Republic of Moldova
- Russia
- Somalia
- South Sudan
- Sudan
- Syria
- Terrorism and terrorist financing
- Tunisia
- Ukraine
- Yemen
- Venezuela
- Zimbabwe
