Financial Crime World

Eritrea Faces Financial Sanctions and Embargo

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The United Nations, European Union, and the United Kingdom have imposed a range of sanctions on Eritrea, including an arms embargo and financial sanctions. These measures were put in place due to concerns over human rights violations, regional instability, and the development of weapons of mass destruction.

Arms Embargo

An arms embargo is currently in force on Eritrea, prohibiting the export of:

  • Military equipment
  • Ammunition
  • Spare parts
  • Technical assistance related to military activities or the provision, manufacture, maintenance, or use of items referred to

This includes a ban on the supply of financial and other assistance related to military activities.

Travel Bans and Asset Freezes

In addition to the arms embargo, there are also travel bans and asset freezes imposed on listed individuals deemed a threat to peace and national reconciliation in Eritrea.

Staying Informed

For exporters who intend to export goods to Eritrea, it is essential to be aware of the current situation through media reports and other information channels. To stay informed about arms embargoes and changes to strategic export control legislation, exporters can:

  • Subscribe to the Export Control Organisation’s Notices to Exporters
  • Check the UK Military List for prohibited items

EU Measures

The EU measures include provisions for:

  • Cargo inspections
  • Exemptions for humanitarian purposes or protective use
  • Specific restrictions on the procurement, sale, or supply of arms and related material

Export Licence Requirements

Exporters who wish to apply for an export licence must ensure that their application meets one of the exemptions set out in the embargo. For details on different export licences available, exporters can refer to:

  • The guide on licenses - export, trade and investment
  • The Export Control Organisation’s Notices to Exporters

Financial Sanctions

Eritrea is currently subject to financial sanctions, with a list of asset freeze targets designated by the United Nations, European Union, and United Kingdom. Exporters are advised to check this list before engaging in any transactions involving Eritrean parties.

Additional Resources

For further information, exporters can:

  • Contact the BIS ECO Helpline
  • Subscribe to the Export Control Organisation’s Notices to Exporters