NOR GVT Sanctions Against Somalia


On Dec. 2, NOR GVT amended rules re sanctions against Somalia.


  • NOR GVT issued regulations amending the regulations on sanctions in light of the situation in Somalia (FOR-2024-11-28-2910), amending regulation 77 of Feb. 7, 1992.
  • Relates to the incorporation of Reg 147/2003 and Reg 356/2010 and various changes.
  • Effectiveness
  • The regulations enter into force on Nov. 28, 2024.
  • Dec. 2024 New Regulation
  • On Dec. 11, 2024, NOR GVT issued FOR-2024-12-09-3030 on Somalia sanctions.
  • In Reg. 77/1992 expression Ministry of Foreign Affairs changed to Directorate for Export Control and Sanctions, with exception of following provision: Section 6.
  • The Regulations 3030/2024 will enter into force on Jan. 1, 2025.

Regulators NOR GVT
Entity Types B/D; Bank; Corp; Ins; Inv Co; MSB
Reference OG 2024-1371, FOR-2024-12-09-3030, 12/11/2024; OG 2024-1291, 12/02/2024; Reg 77, 2/7/1992; Act 18, 4/16/2021; Reg 147/2003; Reg 356/2010; Citation: FOR-2024-11-28-2910; FOR-2024-12-09-3030;
Functions AML; Compliance; Financial; Legal; Operations; Risk; Sanctions
Countries Norway; Somalia; Cross-Border
Category
State
Products Banking; Clearing; Corporate; Deposits; Equity; Fund Mgt; Insurance; Loan; Securities
Regions EMEA
Rule Type Final
Rule Date 12/2/2024
Effective Date 1/1/2025
Rule Id 235579
Linked to N/A
Reg. Last Update 12/11/2024
Report Section AML & Enforcement

Last substantive update on 12/16/2024