UN Renewed Sanctions on Yemen

Published on: Nov 18, 2024

On Nov. 13, UN adopted resolution and renewed sanctions measures.

  • UN security council renewed a travel ban and assets freeze imposed on certain individuals/entities in Yemen by 12 months and extended for 13 months the mandate of panel of experts tasked with assisting council’s Yemen sanctions committee.
  • Follows UN Nov. 2023 renewed 12 month travel ban and assets freeze, see #163412.
  • Renewal Highlights
  • The council unanimously adopted Res 2758 (2024) and decided to renew, until Nov. 15, 2025, measures which were initially imposed by Res 2140 (2014).
  • Further, council decided to extend the mandate of the panel of experts established by that resolution until Dec. 15, 2025, also expressing its intention to review this mandate and take appropriate action regarding further extension no later than Nov. 15, 2025.
  • Through the resolution, the 15-nation organ also requested that the panel of experts provide a midterm update to the relevant committee no later than Apr. 15, 2025.
  • In addition, a final report to be submitted to the council no later than Oct. 15, 2025.
  • Include info re illicit transfer and diversion of conventional weapons and commercially available components used by individuals/entities to assemble weapons systems.
  • Effectiveness
  • The travel ban and assets freeze has been renewed until Nov. 15, 2025 and the mandate of the panel of experts has been extended until Dec. 15, 2025.
  • Midterm update submitted to council by Apr. 15, 2025, final report by Oct. 15, 2025.
Regulators
UN
Entity Types
B/D; Bank; Ins; Inv Co; MSB
Reference
PR SC/15896, Res 2758 (2024), 11/13/2024; Res 2140 (2014); Citation: Res 2758 (2024);
Functions
AML; Compliance; Financial; Legal; Operations; Sanctions
Countries
Global Regulator; Cross-Border; Yemen
Category
State
N/A
Products
Banking; Clearing; Deposits; Fund Mgt; Insurance; Loan; Securities
Rule Type
Final
Regions
Global
Rule Date
Nov 13, 2024
Effective Date
Nov 15, 2025
Rule ID
233430
Linked to
Reg. Last Update
Nov 13, 2024
Report Section
AML & Enforcement