Guidance: Financial sanctions, Iraq

Updated: Updated with HM Treasury notice, 23/09/2016, ISIL (Da’esh) & Al-Qaida (Reg 2016/1695)

The UN Security Council imposed sanctions against the Republic of Iraq in August 1990 following Iraq’s invasion of Kuwait.

In 2003, the UN lifted all trade sanctions against Iraq except for the arms embargo; replaced the existing assets freeze with a freeze targeted at all Government of Iraq funds and all funds belonging to Saddam Hussein, senior members of his regime and their immediate family members; and required that such funds be transferred to the Development Fund for Iraq. Iraq current regime list (html)

Current EU regulations

22.09.2016 Commission Implementing Regulation (EU) No 2016/1695 Amending Regulation (EC) No 1210/2003 delisting 19 entities.

13.09.2016 Commission Implementing Regulation (EU) No 2016/1642 Amending Regulation (EC) No 1210/2003 delisting the entry of 1 entity.

20.08.2016 Commission Implementing Regulation (EU) No 2016/1398, concerning certain specific restrictions on economic and financial relations with Iraq.

The Consolidated Version 07 July 2003 Council Regulation (EC) 1210/2003 concerning restrictive measures against Iraq is available here

07.12.1992 Council Regulation (EEC) No 3541/1992 Prohibited the satisfying of Iraqi claims with regard to contracts and transactions the performance of which was affected by UNSCR 661 (1990) and related resolutions.

Disclaimer

While the link above is described as the latest consolidated version of the relevant EU Regulation on the EUR-Lex website, readers are to be aware that amendments to the Regulation are not always immediately included in that consolidated version. Accordingly HM Treasury does not accept any liability for possible omissions of relevant data or mistakes, and for any use made of the consolidated version. The most recent amendments to the implementing Regulation can be found by searching for them individually.

Current UK regulations 02.07.2012 The Iraq (Asset Freezing) Regulations 2012 (SI 2012/1489) Financial Sanctions Guidance

Read the Office of Financial Sanctions Implementation’s guide to financial sanctions.

Licence applications

Licences authorise certain activities or types of transaction that would otherwise be prohibited by asset freezing legislation. Download a licence application form.

https://www.gov.uk/government/publications/financial-sanctions-iraq

seen at 18:34, 23 September in Publications on GOV.UK.
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