On Oct. 11, EU CNCL prolonged framework for sanctions for one year.
The EU Council decided to prolonged the framework for imposing targeted restrictive measures in view of the situation in Nicaragua for one year, until Oct. 15, 2022.
Regime was introduced in Oct, 2019 to address deteriorating political, social situation.
It targets persons and entities responsible for human rights violations or abuses.
For repression of civil society and democratic opposition in Nicaragua, and persons and entities whose actions, policies or activities undermine democracy and the rule of law.
Sanctions currently apply to 14 individuals, designed not to harm population, economy.
Those listed are subject to asset freeze, EU persons and entities are forbidden from making funds available to them, natural persons are subject to a travel ban to the EU.
Oct. 12, 2021 Official Journal
On Oct. 12, 2021, EU CNCL published decision 2021/1800 of Oct. 11 amending decision (CFSP) 2019/1720 on restrictive measures in view of situation in Nicaragua.
Entered into force on day following publication in official journal, e.g. Oct. 13, 2021.
Oct. 2022 Extended Sanctions
On Oct. 14, 2022, EU CNCL published Dec (CFSP) 2022/1943 of Oct. 13, amending Dec (CFSP) 2019/1720 re restrictive measures in view of the situation in Nicaragua.
Reg 2022/1935 of Oct. 13, 2022 implementing Reg 2019/1716 concerning restrictive measures in view of the situation in Nicaragua; restrictive measures extended until Oct. 15, 2023 and statement of reasons for 2 natural persons listed in annex updated.
Reg 2022/1934 of Oct. 13, 2022 amending Reg 2019/1716 amends annex II, websites for information on the competent authorities and address for notifications to the EC.
All enter into force on the day following publication in European Union's official journal.
Oct. 2023 Extended Sanctions
On Oct. 10, 2023, EU CNCL issued Council Dec (CFSP) 2023/2127 of Oct. 9, 2023 amending Dec (CFSP) 2019/1720 concerning restrictive measures in view of the situation in Nicaragua, in order to extend its restrictive measures until Oct. 15, 2024.
Also issued Reg 2023/2125 of Oct. 9, 2023 implementing Reg 2019/1716 concerning restrictive measures in view of the situation in Nicaragua in the EU official journal.
The restrictive measures currently in place apply to total of 21 persons and 3 entities.
Those designated are subject to asset freeze; EU citizens and companies are forbidden from making funds available to them; natural persons are additionally subject to a travel ban, which prevents them from entering or transiting through EU territories.
Oct. 2024 Extended Sanctions
On Oct. 9, 2024, EU CNCL extended restrictions for another year, to Oct. 15, 2025.
Issued in Official Journal, Dec (CFSP) 2024/2665 of Oct. 8, 2024 amending Dec (CFSP) 2019/1720 concerning restrictive measures in view of the situation in Nicaragua.
As well as Council Implementing Reg 2024/2672 of Oct. 8, 2024 implementing Reg 2019/1716 concerning restrictive measures in view of the situation in Nicaragua.
In force on the day after publication in the Official Journal, i.e. on Oct. 10, 2024.
Regulators
EU CNCL
Entity Types
B/D; Bank; BS; Corp; Ins; Inv Co; MSB
Reference
OJ L, 10/9/2024; PR, Dec (CFSP) 2024/2665, Reg 2024/2672, 10/8/2024; OJ L, 10/10/2023; Reg 2023/2125, Dec (CFSP) 2023/2127, PR, 10/9/2023; OJ L 268, 10/14/2022; Dec (CFSP) 2022/1943, Reg 2022/1934, Reg 2022/1935, 10/13/2022; OJ L 361/52, 10/12/2021; PR, Dec (CFSP) 2021/1800, 10/11/2021; Dec (CFSP) 2019/1720; Reg 2019/1716; Citation: Dec (CFSP) 2022/1943; Reg 2022/1934; Reg 2022/1935; Dec (CFSP) 2023/2127; Reg 2023/2125; Dec (CFSP) 2019/1720; Reg 2019/1716; Dec (CFSP) 2024/2665; Reg 2024/2672;
Functions
AML; Compliance; Financial; Human Rights; Legal; Operations; Sanctions
Countries
Albania; Bosnia and Herzegovina; European Union; Georgia (Country); Iceland; Liechtenstein; Montenegro; Moldova; Nicaragua; North Macedonia; Norway; Serbia; Ukraine; Cross-Border
Category
State
Products
Banking; Clearing; Deposits; Fund Mgt; Insurance; Loan
