INTERNATIONAL SANCTIONS

Sanctions are restrictive measures that are put in place by the United Nations (UN) Security Council or other countries in the international community to achieve a specific foreign policy or national security objective, as well as maintain international peace and security. Sanctions come in many forms and are developed in response to a particular circumstance. It may include designations for financial sanctions, including asset freezes; trade sanctions, including arms embargoes and restrictions; and immigration sanctions, known as travel bans. Such restrictions may limit the provision of certain financial services or restrict access to financial markets, funds, economic resources, trade and exports. The Prevention of Terrorism Regulation, 2015 directs all Supervisory Authorities to immediately upon receipt of a sanctions list, circulate it to the entities under its purview for their information and action.

What should you do?

Once a designation is made, reporting entities and Non-Profit Organisations operating in or from within the Republic are required to:

A person who contravenes the provisions of these Regulations commits an offence and shall be liable, on conviction, to a fine not exceeding SCR 20,000 or to imprisonment for a term not exceeding 2 years.

You can access the UN Security Council ISIL (Da’esh) & Al-Qaida Sanctions List 1267 on:

https://www.un.org/securitycouncil/sanctions/1267/aq_sanctions_list

2024

2024

2024

2024