France Imposes Financial Sanctions and Embargoes on Southern Territories
In an effort to combat money laundering, terrorism financing, and other prohibited activities, France has implemented a comprehensive sanctions regime targeting individuals and entities operating within its Southern Territories. This regime is enforced through a combination of United Nations Security Council resolutions, European Union directives, and autonomous measures.
Types of Sanctions
France’s sanctions regime consists of three types:
- United Nations (UN) sanctions: Imposed by the UN to combat terrorism, proliferation of weapons of mass destruction, and other threats to international peace and security.
- European Union (EU) sanctions: Enacted at the EU level to address similar concerns as UN sanctions.
- Autonomous French sanctions: Implemented by France to combat specific issues such as money laundering, terrorism financing, and other prohibited activities.
National Register of Sanctioned Entities
The French government maintains a national register of persons and entities subject to asset freeze measures. This register includes:
- Individuals
- Legal entities
- Vessels designated as targets by the UN, EU, or France itself
- All persons, entities, and vessels subject to asset freeze measures in force on French territory
The register is updated regularly.
Map of Embargoed Countries
In addition to the national register, France also maintains a map of embargoed countries, managed by Customs authorities. The Treasury department publishes a summary list of all restrictive measures by country.
Authorizations for Specific Transactions
To facilitate compliance with sanctions, the General Directorate of the Treasury issues authorizations for specific transactions or activities that would otherwise be subject to authorization. There are two types of authorizations:
- General licenses: Allow specific transactions or activities to proceed without further authorization.
- Authorizations of a general nature: Grant blanket permission for specific activities.
Consequences of Breaching French Sanctions
Violating French sanctions can result in severe consequences, including:
- Imprisonment
- Confiscation of goods and assets
- Fines
The Ministry for the Economy and Finance is responsible for administering financial and trade sanctions and provides guidance on compliance issues.
Contact Information
For more information or to report suspected violations, please contact:
Ministry for the Economy and Finance Directorate-General of the Treasury Télédoc 151 139, Rue de Bercy 75572 Paris Cedex 12 France
Tel: (+33) 01 40 04 04 04 Email: sanctions-gel-avoirs@dgtresor.gouv.fr Website: www.economie.gouv.fr