Tanzania Implements Revised Guidelines on Targeted Financial Sanctions to Enforce UN Resolutions

Strengthening International Compliance and Preventing Illicit Activities

Dar es Salaam, April 5, 2024 - The Tanzanian government has introduced revised guidelines on targeted financial sanctions aimed at ensuring effective implementation of United Nations Security Council resolutions that require countries to freeze funds and assets of designated individuals and entities.

Enhancing Compliant Implementation of UN Resolutions

The revised guidelines are designed to provide clarity on the requirements for freezing, seizing, or repatriating assets linked to persons or entities designated by the UN Security Council under Chapter VII of the Charter of the United Nations. This move is part of Tanzania’s efforts to comply with international obligations and prevent the misuse of its financial system.

Preventing Illicit Activities and Maintaining a Robust Financial System

The guidelines are also intended to ensure that no funds or assets are made available to or for the benefit of individuals and entities targeted by UN sanctions. The Tanzanian government has emphasized its commitment to upholding international law and maintaining a robust financial system free from illicit activities.

Key Provisions and Implications

• The revised guidelines took effect on April 5, 2024.
• The new regulations are designed to enhance Tanzania’s ability to enforce UN sanctions and prevent any potential misuse of its financial system.
• The guidelines provide clarity on the requirements for freezing, seizing, or repatriating assets linked to designated individuals and entities.

By implementing these revised guidelines, Tanzania demonstrates its commitment to international cooperation and ensuring a secure and compliant financial system.