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Economic and financial sanctions

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Economic and financial sanctions aim to make the operations of the persons and entities on the lists impossible in economic terms. These lists include persons and entities which may be associated with terrorism, or have committed actions in violation of international law or fundamental human rights.

The legal acts of the European Union serve to implement the economic and financial sanctions imposed by the Security Council of the United Nations, while they also set out autonomous economic and financial sanctions by the EU. Providers are required to monitor these lists so that they can implement the freezing of funds and economic resources imposed by EU legal acts as prescribed in Act CLXXX of 2007 on the Implementation of the Economic and Financial Sanctions Imposed by the European Union, and on Respective Amendments to Other Laws,
as well as the prohibition under EU legal acts on making funds or economic resources available.

The public statements of FATF and MONEYVAL list countries and areas where the systems to combat money laundering and terrorist financing are inadequate, as a result of which any relationship with such countries and areas involves a risk.

Monitoring the recommended lists is recommended primarily for providers involved in international payments, because specific countries make this compulsory for their own institutions and also require them to ensure compliance with that requirement by their institutional counterparties.

Economic and financial sanctions

Legal basis, definition and implementation of the sanctions imposed by the Security Council of the United Nations and the Council of the European Union

Required lists (EU Council regulations)

    • Consolidated list
    • Restrictive measures

EU implementing regulations related to terrorist financing

COMMISSION IMPLEMENTING REGULATION (EU) No 1058/2014 of 8 October 2014amending for the 221st time Council Regulation (EC) No 881/2002 imposing certain specific restrictive measures directed against certain persons and entities associated with the Al Qaida network 3

COMMISSION IMPLEMENTING REGULATION (EU) No 1022/2014 of 26 September 2014amending for the 220th time Council Regulation (EC) No 881/2002 imposing certain specific restrictive measures directed against certain persons and entities associated with the Al Qaida network 4

COMMISSION IMPLEMENTING REGULATION (EU) No 934/2014 of 01 September 2014amending for the 219th time Council Regulation (EC) No 881/2002 imposing certain specific restrictive measures directed against certain persons and entities associated with the Al Qaida network 5

COMMISSION IMPLEMENTING REGULATION (EU) No 930/2014 of 28 August 2014amending for the 218th time Council Regulation (EC) No 881/2002 imposing certain specific restrictive measures directed against certain persons and entities associated with the Al Qaida network 6

COMMISSION IMPLEMENTING REGULATION (EU) No 914/2014 of 21 August 2014amending for the 217th time Council Regulation (EC) No 881/2002 imposing certain specific restrictive measures directed against certain persons and entities associated with the Al Qaida network 7

COUNCIL IMPLEMENTING REGULATION (EU) No 790/2014 of 22 July 2014implementing Article 2(3) of Regulation (EC) No 2580/2001 on specific restrictive measures directed against certain persons and entities with a view to combatting terrorism, and repealing Implementing Regulation (EU) No 125/2014 8

COMMISSION IMPLEMENTING REGULATION (EU) No 735/2014 of 04 July 2014amending for the 216th time Council Regulation (EC) No 881/2002 imposing certain specific restrictive measures directed against certain persons and entities associated with the Al Qaida network 9

COMMISSION IMPLEMENTING REGULATION (EU) No 630/2014 of 12 June 2014amending for the 215th time Council Regulation (EC) No 881/2002 imposing certain specific restrictive measures directed against certain persons and entities associated with the Al Qaida network 10

COMMISSION IMPLEMENTING REGULATION (EU) No 583/2014 of 28 May 2014amending for the 214th time Council Regulation (EC) No 881/2002 imposing certain specific restrictive measures directed against certain persons and entities associated with the Al Qaida network 11



Public statements and notices

FATF

High-risk and non-cooperative jurisdictions
Public Statement – 24 October 2014

MONEYVAL

Public statement under Step 3 of MONEYVAL’s Compliance Enhancing Procedures in respect of Bosnia and Herzegovina (12 December 2014)

Recommended lists

UN

    • Security Council list of sanctions
    • Security Council resolutions
    • Security Council sanctions committees

OFAC

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