Malta

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”.

Functions of the Sanctions Monitoring Board and responsibilities under the National Interest (Enabling Powers) Act

Guidance

Latest sanctions updates – Sanctions Monitoring Board

Latest news on sanctions imposed under the Ukraine Territorial Integrity Regime – 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

FAQs

Virtual outreach sessions

National Sanctions

Guidance Note on the Application of Article 17(6)(a), (b) and (c) of the National Interest (Enabling Powers) Act

Frequently Asked Questions Relevant for Subject Persons

Guidance Note on the Responsibility for Non-Subject Persons under The National Interest (Enabling Powers) Act

Guidance Note on Adverse Media

Guidance Note on Hits on National Sanctions of Third Countries

Guidance Note on Targeted Financial Sanctions in Malta

Guidance on Targeted Financial Sanctions Imposed Pursuant to EU Regulations and the National Interest (Enabling Powers) Act under UN Security Council Resolutions related to Terrorism and Terrorist Financing, and Proliferation

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)

Guidance Note on the interpretation of Article 5b of Council Regulation (EU) No 833 2014 of 25 February 2022

FAQs regarding the ban on Russian-Flagged vessels from entering European Ports

Guidance Note on Restrictive Measures regarding Crypto Currencies

Guidance Note on the Determination of Ownership and Control from a Sanctions Implementation Perspective 

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.

Sanctions Monitoring Board Applications for Derogations

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.

Sanctions Implementation

Duties of the Subject Person

Submitting a Query or information to the SMB

Administrative Penalties

Reporting

Individuals and entities conducting a relevant activity or relevant financial business as defined in the Prevention of Money Laundering Act are required to “immediately notify the Sanctions Monitoring Board in case targeted [i.e. sanctioned] property is identified, and the actions taken in relation to such property in compliance with the requirements under the Prevention of Money Laundering Act in relation to any attempted transactions”.
FAQs for “subject persons”FAQ – What are my reporting obligations?

Duties of the Subject Person

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