Tag: Ivory Coast

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EU Financial Sanctions:Ivory Coast

Restrictive measures by the council of the EU The UK Treasury department has issued a Financial Sanctions Notice identifying restrictive measures taken by the Council of the European Union (Council Regulation (EU) No 25/2011) against certain persons and entities in view of the situation in the Ivory Coast.IntroductionOn 15 November 2004 the United Nations Security Council adopted Resolution 1572 which introduced financial sanctions against persons designated by the UN Sanctions Committee as constituting a threat to the peace and national reconciliation process in the Ivory Coast.Council Regulation (EC) No 560/2005 of 12 April 2005 ("the 2005 Regulation") implements Resolution 1572 (2004) in the European Union. Annex I to the 2005 Regulation lists the names of those designated by the UN Sanctions Committee.Council Regulation (EU) No 25/2011On 14 January 2011 the Council of the European Union adopted Council Regulation (EU) No 25/2011 which amends the 2005 Regulation and, amongst other matters, places certain restrictions, including an asset freeze, on persons, entities or bodies who are obstructing the process of peace and national reconciliation, and in particular who are jeopardising the proper outcome of the electoral process in the Ivory Coast, and natural or legal persons, entities or bodies associated with them.The ...

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