Overview
Sanctions in Malta are governed by the National Interest (Enabling Powers) Act, Cap 365 of the Laws of Malta, pursuant to which all UN and EU sanctions are implemented.
National Competent Authorities
The Sanctions Monitoring Board (Ministry for Foreign and European Affairs and Trade) is the national competent authority responsible for the “effective implementation of UN, EU and national sanctions”.
Guidance
Latest sanctions updates – Sanctions Monitoring Board
Subscribe to the mailing list of the Sanctions Monitoring Board by sending an email to sanctions.smb@gov.mt
Consolidated guidance notes – Sanctions Monitoring Board
Frequently Asked Questions Relevant for Subject Persons
Guidance Note on Adverse Media
Guidance Note on Hits on National Sanctions of Third Countries
Guidance Note on Targeted Financial Sanctions in Malta
Guidance Note on Responsibility of Practitioners operating Pooled Accounts
Terrorism Sanctions against the Background of Recent Developments in the Middle East
Terrorism Related Listings and de-Listings
Guidance Note on Article 5m Council Regulation (EU) 2022/879 of 3 June 2022
Guidance Note on Article 5n Council Regulation (EU) 2022/879 of 3 June 2022
SMB Guidance on Russia Sanctions (incl. 8th Package)
FAQs regarding the ban on Russian-Flagged vessels from entering European Ports
Guidance Note on Restrictive Measures regarding Crypto Currencies
Licensing
Individuals and entities may apply to the Sanctions Monitoring Board using the template form (linked below) for a licence to allow an activity, service, or transaction to take place that would otherwise be prohibited under EU or UN restrictive measures.
Enforcement
The Sanctions Monitoring Board may impose “one-time fixed” penalties or “daily cumulative” penalties for sanctions breaches.
One-time fixed sanctions range from €100 to €300 for every separate contravention and from €300 to €800 for serious, repeated and systematic contraventions. Daily cumulative penalties range from €50 to a total of €1000.
In addition, the Board may issue directives requiring any person to take action to remedy a sanctions contravention.
Any individual or company may request specific guidance from the Sanctions Monitoring Board on whether any intended action or transaction would fall foul of applicable sanctions.
