Information as of: 20th December 2019

Latest Updates
Financial/Other Sanctions
US EO 13288, updated by EO 13391 (November 2005) and EO 13469 (July 2008)
EU/UK EU 2004/161/CFSP - amended by 2013/160/CFSP (2013) and EU Council Decision (CFSP) 2017/288 (Feb 2017) and renewed by EU Council Decision (CFSP) 2017/288 and by (CFSP) 2018/224
Arms Embargo
US EO 13288, updated by EO 13391 (November 2005) and EO 13469 (July 2008)

EU 2004/161/CFSP amended by EU Council Decision (CFSP) 2017/288. CFSP 2019/284

Further Details
US Measures include freezing of assets & trade restrictions involving specified individuals (most recently updated Sep 2015). U.S. denying applications & licences to export defence articles or services. General licence issued 24 April 2013 allowing all transactions with two specified banks provided the transaction does not otherwise involve persons whose property or interests in property are blocked. OFAC Implemented EO 13391 and EO 13469 effective 10 July 2014 as final rule. SDN list updated on 3 Feb 2016 removing SDNs and the need to obtain a license to deal with a number of Zimbabwe entities ("Zimbabwe General Licence 1"). Measures renewed on 2 Mar 2018 for a further year. SDN list updated periodically.  Restrictive measures under EO 13288 extended for one year effective 6 March 2019.
EU/UK EU 2004/161/CFSP (amended Aug 2008), expands upon technical advice, financial & import / export sanctions - implemented by UK (Feb 2004). Includes travel bans & freezing of funds of designated persons & arms embargo.  2014/98/CFSP suspends travel ban & asset freeze on persons & entities listed. Reg (EU) 2016/214 maintains the arms embargo and some SDNs but removes a large number of SDNs (78 individuals and 8 entities). Renewed by EU Council Decision (CFSP) 2017/288 which also introduces further exemptions to the arms embargo. Measures renewed by (CFSP) 2018/224 until 20 Feb 2019. Measures further extended until 20 Feb 2020 under CFSP 2019/284
This information has been collated by the International Underwriting Association of London and is intended as a guide only. The IUA does not accept any liability for the accuracy of this information.
This publication is intended to convey only general information about sanctions legislation and associated insurance coverage. It is not, and is not intended to be, a complete statement of the law relating to this area. It should not be relied on or be used as a substitute for legal advice in relation to any particular set of circumstances. Accordingly, IUA does not accept any liability for any loss which may arise from reliance on this information.