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Financial Sanctions and Embargoes Take Centre Stage in Croatia Amidst Global Turmoil
The Republic of Croatia has become a party to restrictive measures, also known as financial sanctions, following its accession to the European Union. These measures are designed to alter the behavior of individuals or entities that violate international law, human rights, or democratic principles.
Background on Financial Sanctions
According to Article 11 of the Treaty on the European Union, the EU applies these sanctions to protect common values, fundamental interests, and security in accordance with the UN Charter. The EU also seeks to promote international cooperation, develop democracy, and respect human rights.
Croatia has its own Law on Restrictive Measures, which outlines the procedures for implementing restrictive measures aligned with EU legal acts. The country is also bound by relevant UNSC resolutions introducing such measures.
New Developments in Financial Sanctions
New geopolitical developments have intensified activities regarding the introduction of new sanctions. The Russian aggression against Ukraine, as well as crises in the Middle East and Africa, have led to a significant increase in EU sanctions against approximately 35 countries, regimes, and terrorist organizations.
Targeted Countries and Organizations
EU restrictive measures currently target Russia, Belarus, Iran, and North Korea for their actions against Ukraine’s territorial integrity and sovereignty. These sanctions include:
- Arms embargoes
- Trade restrictions
- Financial bans
- Visa bans
- Travel bans
Implementation of Sanctions in Croatia
Pursuant to Article 8 of Croatia’s Law on Restrictive Measures, all natural and legal persons are required to act in accordance with its provisions and regulations adopted on its basis.
Resources for Additional Information
For additional information about sanctions regimes and restrictive measures, individuals can contact the Ministry of Foreign and European Affairs at sankcije@mvep.hr. The ministry provides:
- Guidelines for implementation
- FAQs
- Other relevant information
Interactive Map and Consolidated List
The interactive map of the European Commission offers a comprehensive overview of current EU and UN sanctions regimes, while the consolidated list of persons, entities, and groups under EU financial sanctions can be accessed online.