About the Sanctions Monitoring Board

About the Sanctions Monitoring Board

Sanctions are imposed in order to bring about change or pressure on a country or Government without the use of armed force. They may target governments of third countries, non-state entities and individuals. Sanctions include: (i) Arms embargoes; (ii) Trade Restrictions such as import and export bans; (iii) Financial Restrictions and (iv) Restrictions on Movement such as visa or travel bans.

Sanctions in Malta are governed by the National Interest (Enabling Powers) Act, Cap 365 of the Laws of Malta and their application is monitored by the Sanctions Monitoring Board.

All sanctions issued by the European Union and the United Nations Security Council are directly applicable under the National Interest (Enabling Powers) Act, Cap 365 under the Laws of Malta. Any legal or natural person conducting a relevant activity or relevant financial business as defined in the Prevention of Money Laundering and Funding of Terrorism Regulations is obliged to adhere to applicable sanctions and carry out the necessary check to ensure that sanctions are always complied with. Should any situation be encountered which is in violation of sanctions, whether directly or indirectly, there is an obligation to stop any transaction from going through, freeze any assets and inform the SMB.


Address
Ministry for Foreign and European Affairs
Palazzo Parisio
Merchants Street
Valletta, VLT 1171
Malta
18, Zachary Street
Valletta
Malta
331, Allied House
St. Paul Street,
Valletta, VLT 1211
Malta
172, Melita Street
Valletta
Malta

Telephone
2124 2191
2124 2191

Email
Address
Parliamentary Secretary for EU Funds
33, House of Catalunya,
Marsamxett Road,
Valletta, VLT 1850
Malta

Telephone
+356 2295 7500

Email

Website