National Competent Authorities
The Ministry for Foreign Affairs, European Union and Cooperation is responsible for the foreign policy of Spain, including sanctions.
The Secretariat General of Treasury and International Financing is responsible for financial sanctions and licences.
The Ministry of Economy, Commerce, and Business has responsibility for import and export licences and the Unit of International Trade of Services and Digital Trade is responsible for military and dual-use goods and technology export and import licences.
Spain’s Financial Intelligence Unit (Sepblac), the Bank of Spain, the National Securities Market Commission, and the General Directorate of Insurance and Pension Funds are responsible for monitoring compliance with sanctions.
Legislation
Law 10/2010 (on the prevention of money laundering and financing of terrorism)
Regulation of Law 10/2010 approved by Royal Decree 304/2014
Sanctions Lists
Please see EU sanctions list.
Guidance
Ministry for Foreign Affairs, European Union and Cooperation – International Sanctions
Ministry of Economy, Commerce, and Business – Sanctions on commercial or investment operations
Treasury – International financial sanctions
Ministry of Economy, Commerce, and Business – Financial sanctions
Information communication on the application of financial sanctions due to the Ukraine conflict
Obligations of natural and legal persons regarding international financial sanctions
Licensing
The Secretariat General of Treasury and International Financing may authorise the release of frozen funds.
Enforcement
Under Articles 51 and 52 of Law 10/2010, a violation of sanctions may result in a monetary penalty of between €60,000 to €5 million, a public or private warning, and fines and disqualification on managers of an entity which contravenes sanctions
Reporting
Individuals and entities must report immediately the freezing of funds owned or controlled by a sanctioned entity to the General Secretariat of the Treasury and Financial Policy, including in the communication all the relative data, the holder, the amount, and the nature of the funds or economic resources that have been frozen or blocked.
Export controls
Legislation
Law 53/2007, of December 28, (BOE 12/29/2007) , on the control of foreign trade in defence and dual-use material.
Royal Decree 679/2014, of August 1, (BOE 08/26/2014) , which approves the Regulation for the control of foreign trade in defence material, other material and dual-use products and technologies.
Guidance
Ministry of Economy, Commerce, and Business – International sanctions
