Here’s the article in markdown format:

Economic Sanctions Laws and Regulations in Belgium

This article provides an overview of the economic sanctions laws and regulations in Belgium, as per the International Comparative Legal Guide (ICLG) network.

Key Aspects of Economic Sanctions in Belgium

Overview of Economic Sanctions Laws in Belgium

• Economic sanctions laws in Belgium are primarily based on EU regulations and domestic legislation.
• Companies can be held liable for violating economic sanctions, and penalties can range from fines to imprisonment.

Enforcement Mechanisms in Belgium

• The Belgian authorities have implemented various enforcement mechanisms, including:
  • Administrative penalties
  • Criminal sanctions
  • Civil actions

Penalties for Violating Economic Sanctions

• Penalties for violating economic sanctions can be significant, with fines ranging from €500,000 to €10 million or more.

Appeals Process in Belgium

• Companies can appeal judgments related to economic sanctions in the Court of Appeal, which has de novo proceedings.
• The statute of limitations for economic sanctions violations is five years, although this can be extended to ten years if the sentence exceeds three years.

Proposed EU Directive on Economic Sanctions

• The EU has proposed a directive introducing criminal offenses and penalties for violating EU sanctions.

Conclusion

In conclusion, this article provides a detailed overview of the complex landscape of economic sanctions laws in Belgium. It highlights the importance of compliance and the potential consequences of non-compliance. Companies operating in Belgium must ensure they understand these regulations to avoid any legal issues.