On 17 April 2014, Liechtenstein issued a regulation (the “Regulation“) implementing measures to prevent the circumvention of EU sanctions in relation to the Ukraine crisis. This follows a similar announcement made by the Swiss State Secretariat for Economic Affairs, reported here.
The Regulation broadly prohibits the receipt of funds or economic resources which belong to, or are under direct or indirect control of, any designated person, entity or organisation. The Regulation also includes reporting obligations regarding, inter alia, dealings with such funds or economic resources.
The 33 individuals designated under the Regulation mirrors the 33 individuals previously designated by the EU under Council Regulation (EU) No 269/2014 and Council Implementing Regulation (EU) No 284/2014. It does not, however, include the four additional individuals designated by the EU on 15 April 2014. A copy of the Regulation in original version can be found &llt;/span>here.
