SMB Guidance Note concerning Sanctions imposed on Russia


SMB Guidance Note concerning Sanctions imposed on Russia

April 13, 2022

13th April 2022

The FIAU would like to bring to your attention the fact that the Sanctions Monitoring Board (SMB) has updated the “Guidance Note on the Imposition of EU Sanctions concerning Restrictive measures in Respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine”.  

In addition, the SMB has also issued guidance on how these sanctions can be applied with respect to crypto-assets.

Subject persons are advised to keep abreast of developments related to their obligations, including being up to date with  the latest sanctions and restrictive measures imposed by the European Union against Russia and how to ensure adhering to them. Information on these measures can be accessed through the following dedicate webpage maintained by the Sanctions Monitoring Board (SMB) here.

For any questions related to this Guidance Note, and for any queries related to sanctions, subject persons are to seek direction from the SMB. Queries may be sent by email on the following email address – [email protected].