Sanctions referred to restrictions and/or prohibitions on
activity with targeted countries, governments, groups, natural and
legal persons, and industries that are imposed by bodies such as
the United Nations and the European Union. They can include a
variety of measures ranging from arms embargoes, travel bans, asset
freezes, reduced diplomatic links, reductions/ cessation of any
military relationship, flight bans, suspension from international
organizations, withdrawal of aid, trade embargoes, restriction on
cultural/ sporting links and other.
- Compliance with Sanctions
It is noted that sanctions are of strict liability in nature and
as such require absolute compliance. If any person, either physical
or legal person, is in breach of its sanctions-related obligations,
will be guilty of a criminal offence and will bear substantial
financial penalties and reputational damage.
