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Economic Sanctions Laws and Regulations in Belgium and the European Union

Overview

The economic sanctions-related laws and regulations in Belgium, as well as the European Union (EU), are complex and multifaceted. This article provides a comprehensive overview of key aspects, including definitions, types of sanctions, key authorities involved, penalties for non-compliance, and statute of limitations.

Key Points

Definition

  • Economic Sanctions: Measures imposed by governments to achieve specific foreign policy goals.

Types of Sanctions

  • Embargoes
  • Trade restrictions
  • Asset freezes
  • Travel bans
  • Arms embargoes
  • Financial sanctions
  • Other restrictive measures

Key Authorities

  • European Union (EU): The EU is a key authority in implementing economic sanctions, and its laws and regulations apply to all member states, including Belgium.
  • Belgian Government: The Belgian government also plays a crucial role in enforcing economic sanctions within the country.

Penalties for Non-Compliance

  • Administrative Penalties: Fines and other administrative penalties can be imposed on individuals or entities that fail to comply with economic sanctions.
  • Criminal Penalties: In more severe cases, criminal penalties, including imprisonment, may also apply.

Civil Enforcement

  • Claimants can bring an action before a Belgian court on the basis of Article 1382 of the former Civil Code.

Appeal Process

  • The applicant may appeal a judgment within one month before the Court of Appeal.

Statute of Limitations

  • Administrative Penalties: Five years
  • Criminal Penalties: Five to ten years

Additional Information

EU Directive

A proposed EU directive introduces common definitions and dissuasive penalties for sanctions violations.

Publicly Available Resources

Relevant economic sanctions laws, regulations, administrative actions, and guidance are publicly available on the internet in English.

Guidance from General Administration of the Treasury

The General Administration of the Treasury provides guidance on financial sanctions.