KNOWLEDGEBASE

European Union Sanctions List

In its policy, the European Union intervenes when necessary to prevent conflict or in response to emerging or actual crises. In certain cases, EU intervention can take the form of restrictive measures or 'sanctions'. The application of financial sanctions and more precisely the freezing of assets constitutes an obligation for both the public and private sector. In this regard, a particular responsibility falls on credit and financial institutions, since they are involved in the bulk of financial transfers.

In order to facilitate the application of financial sanctions, the European Banking Federation, the European Savings Banks Group, the European Association of Co-operative Banks, the European Association of Public Banks ("the EU Credit Sector Federations") and the European Commission recognised the need for an EU consolidated list of persons, groups and entities subject to financial sanctions and more precisely the freezing of assets.

Sanctions may target governments of third countries, or non-state entities and individuals, such as terrorist groups and terrorists. These measures may include:

  • Arms embargoes;
  • Trade restrictions, such as import and export bans;
  • Financial restrictions;
  • Restricting movement, such as visa or travel bans.