TARGET – DISRUPT – DELIVER Malta’s Implementation of EU Sanctions on RussiaThe European Union has adopted seventeen consecutive sanctions packages to limit Russia’s ability to finance its war and to hold accountable those who support it. These sanctions present complex implementation challenges but they have also created an opportunity and a responsibility for EU jurisdictions […]
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Unlawful Military Cooperation including Arms Transfers between North Korea and Russia
The report documents the unlawful military cooperation between the Democratic People’s Republic of Korea (DPRK) and the Russian Federation. This cooperation includes the transfer of various military assets, such as artillery, ballistic missiles, and combat vehicles from North Korea to Russia, and the provision of air defence systems from Russia to North Korea. These transfers, […]
Continue readingFATF Report on Complex Proliferation Financing and Sanctions Evasion Schemes
The report reveals significant vulnerabilities in the global financial system concerning the financing of weapons of mass destruction and sanctions evasion. Despite the grave threat posed by proliferation financing (PF), only 16% of countries assessed by the FATF have demonstrated high or substantial effectiveness in implementing targeted financial sanctions under the United Nations Security Council […]
Continue readingRussia’s war of aggression against Ukraine: Council extends economic restrictive measures for a further 6 months
The Council today renewed the EU restrictive measures in view of the Russian Federation’s continuing actions destabilising the situation in Ukraine for a further 6 months, until 31 January 2026.
Continue readingEU Sanctions Factsheet- Incoterms ‘Ex works’ rule
Under the Incoterms rule, most responsibilities concerning the transport and delivery of the shipment are placed on the import/buyer, from the moment of collecting the goods within the EU. The EXC rule can be used for any mode of transport.
Continue readingRestrictive Measures: The ban on the export of banknotes to Russia
The act of exporting euro-denominated banknotes by an individual traveling to Russia, with the purpose of funding medical treatments they wish to undergo there, is not considered an export required for personal use.
Continue readingEU sanctions alert: High risk of circumvention – Import of plywood
The Commission issued an EU sanctions alert on the high risk of circumvention. Enhanced due diligence on the origin of imported plywood is strongly recommended. This appliesto first placers on the EU market as well as intermediaries (such as warehouse owners) and end-users. EU sanctions alert: High risk of circumvention – Import of plywood – […]
Continue readingPublic Consultation on Complex Proliferation Financing and Sanctions Evasion Schemes Project
The SMB would like to inform subject persons of the following updates from the Financial Action Task Force (FATF): In order to fully understand to current Proliferation Financing (PF) risks, the FATF is conducting a study that will describe the methods used to prevent the targeted financial sanctions outlined in Recommendation 7, which is mandated […]
Continue readingPreventing Russian Export Control and Sanctions Evasion: Updated Guidance for Industry
Part of the G7 Sub-Working Group on Export Control Enforcement’s coordinated efforts is to provide guidance to industry on preventing the diversion of controlled items to Russia, including through third countries. Their collective aim is to assist industry in identifying Russian evasion practices and complying with GECC controls, thereby protecting their technology from misappropriation, preventing […]
Continue readingRestrictive Measures Against Russia: The Confiscation of the Entire Proceeds of a Brokering Transaction Covered by the Prohibition on Providing Brokering Services for Military Equipment is Permitted
Romanian aerospace firm Neves 77 Solutions SRL was fined around 6,000 euro for brokering services related to military equipment to a Russian operator. The company collected 3 million euros for providing such services, leading to a confiscation of the brokerage fee. The Court of Justice ruled that it is illegal to offer such services to […]
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