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Mexico Imposes Financial Sanctions and Embargoes: A Comprehensive Guide

Mexico has a robust sanctions regime in place, which is enforced by various government agencies and institutions. The country’s political constitution recognizes international treaties as part of its domestic law, obliging Mexico to adhere to United Nations (UN) sanctions.

Implementation of UN Sanctions

As a member of the UN, Mexico is required to implement UN resolutions, including economic sanctions against targeted countries or entities. The country has also been a non-permanent member of the UN Security Council on several occasions, giving it a seat at the table in shaping global security policies.

Autonomous Sanctions Regime

Mexico’s autonomous sanctions regime is governed by its Federal Criminal Code, which imposes penalties for terrorism-related offenses. These penalties can range from prison sentences to economic fines and property seizures. Additionally, Mexico has anti-money laundering (AML) provisions that impose both administrative and criminal sanctions on entities found to be involved in terrorist financing.

Types of Sanctions

Mexico’s sanctions regime includes a range of measures:

  • Prison sentences ranging from 15 to 40 years for those who attempt or engage in terrorism
  • Economic fines and property seizures
  • Asset freezes and financial sanctions against designated individuals and corporate entities
  • Travel bans on named individuals
  • Bans on importing raw materials or goods from sanctioned countries
  • Disqualification to participate in public bids or contract with government entities

Sanctions Lists

Mexico maintains two primary lists of sanctioned individuals and entities:

  • The Finance Intelligence Unit (UIF) list, which contains names of individuals and entities that have breached AML provisions
  • The General Attorney of the Republic’s list of most-wanted persons, sanctioned individuals, and entities who have committed crimes

Licensing System

Mexico has a licensing system in place for the export of strategic or controlled goods subject to sanctions and embargo regimes. The country’s Foreign Affairs Ministry is responsible for international relations regarding security, while the Finance Intelligence Unit is responsible for AML detection and sanction.

Contact Information

For further information on Mexico’s sanctions regime, contact:

  • Foreign Affairs Ministry: Plaza Juárez #20, Colonia Centro, Cuauhtémoc, Mexico City, CP 06010, Mexico; Phone: (+52) 3686-5100
  • Finance Intelligence Unit: Avenida Constituyentes #1001, Planta Baja, Colonia Belén de las Flores, Álvaro Obregón, Mexico City, CP 01110, Mexico
  • General Attorney of the Republic: Insurgentes, Número 20 Glorieta Insurgentes, Colonia Cuauhtémoc, Roma Norte, Mexico City, CP 06700, Mexico; Phone: (+52) 5346-0000

Disclaimer

The information contained in this article is intended as a guide only and should not be relied upon as legal advice. Readers are advised to consult with qualified legal professionals for specific guidance on Mexico’s sanctions regime.