Azerbaijan updates international sanctions list
New changes have been made to Azerbaijan's international sanctions list.
Operativ Media reports, citing the Financial Monitoring Service.
According to the statement, the amendment was implemented in accordance with Article 5.2 of the Law "On Targeted Financial Sanctions" and the decision adopted on January 16, 2023, by the UN Security Council ISIL (Da'esh) and Al-Qaida Sanctions Committee.
The sanctions lists include individuals and entities added to the domestic list based on decisions by Azerbaijani courts, as well as those on the international list based on resolutions of relevant UN Security Council sanctions committees (these typically include individuals, organizations, and companies associated with terrorism, financing of terrorism, proliferation of weapons of mass destruction, international crimes, and other serious violations - ed).
"Updated versions of the domestic and international sanctions lists have been posted on the Financial Monitoring Service's official website at www.hms.gov.az.
Under the legislation, obligated entities must immediately freeze the assets of individuals and entities subject to sanctions.
This requirement applies to assets directly or indirectly owned or controlled by these persons, individually or jointly with others, as well as other funds generated from these assets.
At the same time, the assets of individuals and entities acting on behalf of or at the direction of sanctioned persons, as well as the assets of entities directly or indirectly owned or controlled by them, must also be frozen.
Asset freezing must be carried out immediately and without prior notice to the sanctioned parties.
Obligated entities must immediately report asset freezes to the State Security Service and the Financial Monitoring Service via the hms.gov.az website," the statement said.
The application of targeted financial sanctions entails restricting access to financial funds and economic resources for individuals and entities included on the sanctions list.
