Bermuda Sanctions Regimes List 2021: A Comprehensive Overview
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Bermuda has implemented a robust list of sanctions regimes under the International Sanctions Act 2003 and the International Sanctions Regulations 2013 to strengthen its stance on international sanctions. The list comprises 35 separate sanctions regimes aimed at curbing illicit activities, promoting human rights, and combating terrorism.
What Are the Sanctions Regimes in Force?
The sanctions regimes in force in Bermuda include:
- Afghanistan
- Bosnia and Herzegovina
- Burma (Myanmar)
- Burundi
- Central African Republic
- Chemical weapons
- Counter-terrorism
- Cybercrime
- Democratic People’s Republic of Korea (North Korea)
- Democratic Republic of the Congo
- Global human rights
- Guinea
- Iran (both human rights and nuclear)
- Iraq
- ISIL (Da’esh) and Al-Qaida
- Lebanon (assassination of Rafiq Hariri and others)
- Libya
- Mali
- Misappropriation
- Nicaragua
- Republic of Belarus
- Republic of Guinea-Bissau
- Russia
- Somalia
- South Sudan
- Sudan
- Syria (both sanctions and cultural property)
- Unauthorized drilling activities in the Eastern Mediterranean
- Venezuela
- Yemen
- Zimbabwe
Updates to the List
The list is a consolidation of various sanctions orders, including some that were previously in force in Bermuda. The most recent updates include the Sanctions (Overseas Territories) (Amendment) Order 2020, which has amended several of the existing regimes.
Why Is Compliance Important?
It is crucial for individuals and organizations operating in or with links to Bermuda to familiarize themselves with these sanctions regimes and ensure compliance with the applicable laws and regulations. Failure to do so may result in severe legal and financial consequences.
Accessing the Full List
The full list of sanctions regimes can be accessed through the Orders in Council, which are available online. It is recommended that individuals and organizations consult the relevant documentation and seek professional advice if necessary.