SANCTION LISTS

SANCTION LISTS

 What type of sanctions can the EU adopt?  

Restrictive measures imposed by the European Union may target governments of third countries, companies and individuals, such as terrorists. The EU can also adopt sectoral measures, such as economic and financial measures, like import and export restrictions.

There are three types of sanctions regimes in place in the EU. First, there are sanctions imposed by the United Nations which the EU transposes into European law.

Secondly, the EU may reinforce UN sanctions by applying stricter and additional measures. Finally, the EU may also decide to impose fully autonomous sanctions regimes.

There are over 30 EU autonomous and UN transposed sanctions regimes in place globally. In addition, the EU has also adopted horizontal regimes targeting: terrorism, cyber-attacks, proliferation and the use of chemical weapons.

EU sanctions are reviewed at regular intervals. The Council of the EU decides whether sanctions should be renewed, amended or lifted.

It is a duty of every company make sure that the suppliers they work with are not on any sanctions list in order to avoid being fined. And also stay up to date and identify suppliers that appear on a list.