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Financial Sanctions List in Belgium: A Comprehensive Overview

Belgium has implemented a range of financial sanctions to counter various threats, including terrorism, human rights violations, and the proliferation of weapons of mass destruction. These measures are designed to isolate and penalize individuals, entities, and countries that engage in such activities.

Types of Financial Sanctions

National Financial Sanctions

Belgium has three main types of financial sanctions:

  • National Financial Sanctions: These are imposed by Belgian authorities in response to UN Security Council resolutions, targeting individuals and entities involved in terrorism.
  • European Financial Sanctions: The EU imposes sanctions on its own initiative or transposes UN sanctions into European law, often strengthening them with additional measures.
  • International Financial Sanctions (UN): The UN Security Council passes resolutions imposing sanctions on governments, persons, or entities, which are then transposed into European law and applied in Belgium.

Legislation Concerning Money Laundering and Proliferation of Weapons of Mass Destruction

All reporting entities in Belgium must implement effective policies, procedures, and internal control measures to comply with binding provisions relating to financial embargoes. This includes defining and implementing measures to prevent the use of the financial system for money laundering and the financing of proliferation of weapons of mass destruction.

Recent Developments: Financial Sanctions Against Russia

In response to the Russian invasion of Ukraine, the EU has imposed a multitude of sanctions regimes. The General Administration of Treasury plays a crucial role in applying financial sanctions against Russia. For more information on other types of sanctions against Russia, please consult the website of the FPS Foreign Affairs.

Additional Resources and Support

If you have questions about financial sanctions or need help, you can contact the Treasury via email at quesfinvragen.tf@minfin.fed.be. They are here to assist you with any queries or concerns.