The Treasury advises that four statutory documents that came into operation on 27 September 2013 made changes to sanctions measures imposed in respect of North Korea and Syria.
The following information is intended to provide general information on the changes made by the statutory documents, but anyone who thinks they may be affected by the changes should consult the relevant Sanctions Notice on the Customs and Excise website or contact the Sanctions Officer at Customs and Excise for more information.
NORTH KOREA
The European Union (North Korea Sanctions) Order 2013 [SD 333/13] re-applied in Island law Council Regulation (EU) No. 329/2007 (“the 2007 Regulation”), as subsequently amended by Regulations 1283/2009, 296/2013 and 696/2013. Specific changes made to the sanctions measures by Regulations 296/2013 and 696/2013 include –
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A prohibition on opening new bank accounts with a credit or financial institution domiciled in North Korea or any credit or financial institution referred to in Article 11a(2) of the 2007 Regulation;
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Restrictions on establishing branches of credit and financial institutions in North Korea;
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Restrictions on relations with credit and financial institutions connected with North Korea;
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A prohibition on the establishment of new correspondent banking relationships;
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An additional list of persons, entities or bodies subject to sanctions who are working on behalf of or at the direction of a person, entity or body already listed or persons assisting in the evasion of sanctions or violating the provisions of the 2007 Regulation; and
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Prohibitions and restrictions relating to the selling or brokering of bonds issued on behalf of the Government of North Korea, its central bank, other banks and credit institutions or any natural or legal person owned, controlled or acting on behalf of any of these.
The European Union (North Korea Sanctions) Regulations 2013 [SD 334/13] reflect the changes made to the sanctions regime by the above Order.
SYRIA
The European Union (Syria Sanctions) Order 2013 [SD 335/13] re-applied in Island law Council Regulation (EU) No 36/2012 (“the 2012 Regulation”), as subsequently amended by a number of further Regulations, most recently being Council Regulations (EU) Nos 325/2013 and 697/2013. Changes made to sanctions measures by Regulations 325/2013 and 697/2013 include –
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Providing that the prohibition on making funds or economic resources available, directly or indirectly, to or for the benefit of listed persons does not apply to:
- the addition to frozen accounts of payments due under judicial, administrative, or arbitral decisions rendered in a Member State (or the Isle of Man) or enforceable in the Member State (or Isle of Man) concerned; or
- to acts or transactions carried out in respect of Syrian Arab Airlines for the sole purpose of evacuating citizens of the EU and their family members from Syria;
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Adding a new ground for the issue of a licence where funds or economic resources are necessary to ensure human safety or environmental protection; and
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Allowing for a new derogation from the prohibition for the opening of bank accounts with Syrian credit or financial institutions; the opening of representative offices in Syria; the establishment of branches and subsidiaries in Syria in certain, prescribed circumstances (the activities involved are for the purposes of assisting the Syrian people in terms of humanitarian concerns, assisting in the provision of basic services, reconstruction or restoring economic activity, or other civilian purposes and will not involve or entail any funds or economic resources being made available, directly or indirectly, to a listed person
The European Union (Syria Sanctions) Regulations 2013 [SD 336/13] reflect the changes made to the sanctions regime by the above Order.
