|Isle of Man||Italy|
Sanctions are adopted and implemented in accordance with International Law. As a member of the UN and a member state of the EU, Cyprus has an obligation to enforce/implement:
As a member of the UN and EU, Cyprus has measures such as arms and trade embargoes (restrictions to imports/ exports). Financial restrictions, freezing of assets and visa or travel bans are some of the means most commonly used to achieve the objectives, according to the situation at hand.
The CFSP is subject to specific rules and procedures. It shall be defined and implemented by the European Council and the Council of the EU, on the basis of unanimity, except where the Treaties provide otherwise (Article 24 of the Treaty on European Union, TEU).
Decisions and Regulations of the Council of the EU in the framework of CFSP (autonomous restrictive measures and incorporation of UNSC sanctions) constitute in their entirety part of EU Law, which supersedes the national legislation of member states. Therefore, these legal acts are legally binding on all EU member states, with Regulations being directly applicable by member states (ie they require no implementing legislation).
As is set out by Article 297 (2) of the TEC, Decisions and Regulations of the Council of the EU, which are adopted in the framework of CFSP, are then published in the EU Official Journal and take effect on the date specified therein.
No, it follows the UN and EU lists.
Yes, the Central Bank of Cyprus is the competent authority for the transfer of funds, and for applications and notifications of the granting of licences with respect to such transfers of funds, which fall within the scope of the Decisions and Regulations of the EU Council (restrictive measures) and the Decisions/Resolutions of the UNSC (sanctions). The Ministry of Finance’s Advisory Body on Financial Sanctions is the competent authority for the notification of the granting of a license or the intention to grant a license and of the approval of a request or the intention to approve a request, with respect to the release of funds and financial resources. Trade Services (Imports/Exports Licensing Section) is the competent authority for export control for dual-use goods, arms and military equipment.
In Cyprus infringements of EU Regulations constitute a criminal offense and are dealt with on the basis of invoking Articles 136 and 137 of the Criminal Code (Chapter 154). The Implementation of the Provisions of the United Nations Security Council Resolutions or Decisions (Sanctions) and the European Union Council Decisions and Regulations (Restrictive Measures) Law of 2016 imposes penalties for non-compliance of up to two years’ imprisonment, a fine of €10,000 or both for individuals and a fine of €300,000 for corporate bodies.
The role of the Ministry of Foreign Affairs with regard to both UNSC sanctions and EU restrictive measures is, by-and-large, coordinative. It must be noted that the Ministry of Foreign Affairs is neither responsible for issuing approvals/licences and/or official opinions/advice on sanctions’ issues, nor for interpreting the legal acts by which UNSC sanctions and EU restrictive measures are adopted.
Ministry of Foreign Affairs
Presidential Palace Avenue, 1447 Nicosia Cyprus
Law Office of the Republic of Cyprus
Unit for Combating Money Laundering (MOKAS), PO Box 23768, 1686 Nicosia, Cyprus
Central Bank of Cyprus
Department of Licensing and Regulatory Compliance, PO Box 25529, 1395 Nicosia Cyprus
Ministry of Finance
Advisory Body on Financial Sanctions, Corner of Michael Karaoli & Gregori Afxentiou, 1439 Nicosia, Cyprus
Customs and Excise Department
Ministry of Finance, Customs and Excise Department, Corner of Michael Karaoli & Gregori Afxentiou, 1439, Nicosia, Cyprus
T: (+357) 22 601 705, +357 22 601 670, +357 22 601 680
F: (+357) 22 302 018
E: email@example.com. cy, firstname.lastname@example.org, email@example.com, firstname.lastname@example.org
Ministry of the Interior
Civil Registry and Migration Department 1457, Nicosia, Cyprus
Department of Lands and Surveys
Ministry of the Interior, Headquarters of the Department of Lands and Surveys, 29 Michalakopoulou, 1455 Nicosia, Cyprus
Ministry of Transport
Communications and Works, Ministry of Communications and Works Department of Merchant Shipping, Acheon 28, 1424 Nicosia, Cyprus
T: (+357) 22 800 288
F: (+357) 22 776 266
Department of Civil Aviation
Ministry of Communications and Works Central Offices of Department of Civil Aviation, Pindarou Street 27, Alpha Business Center, 1429 Nicosia, Cyprus
Ministry of Energy
Commerce, Industry and Tourism, Department of Registrar of Companies and Official Receiver, Corner of Makarios III Avenue & Karpenisiou Street, “XENIOS” Building, 1427 Nicosia, Cyprus
Trade Services (Imports/Exports Licensing Section)
Ministry of Energy, Commerce, Industry and Tourism, Trade Services (Imports/Exports Licensing Section), 6 Andrea Araouzou Street, 1421 Nicosia, Cyprus
Ministry of Energy, Commerce, Industry and Tourism, Energy Service, 6 Andrea Araouzou Street, 1421 Nicosia, Cyprus
Ministry of Justice and Public Order
125 Athalassas Avenue, 1461 Nicosia, Cyprus
European Union and International Police Cooperation Directorate, Cyprus Police, Cyprus Police Headquarters
Cyprus Securities and Exchange Commission
Cyprus Exchange and Securities Commission, 27 Diagorou Str, 1097 Nicosia, PO Box 24996, 1306 Nicosia
T: (+357) 22 50 6600
F: (+357) 22 50 6700
© Eversheds Sutherland 2018. All rights reserved. Eversheds Sutherland is a global provider of legal services operating through various separate and distinct legal entities.
Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.