Summary
The new law establishes clear definitions for violations related to sanctions, such as not freezing funds, ignoring travel bans or arms embargoes, transferring funds to sanctioned individuals, or engaging in business with state-owned entities from sanctioned countries.
Key Points
1. The new law establishes consistent definitions for violations related to sanctions, such as not freezing funds, disregarding travel bans or arms embargoes, transferring funds to sanctioned individuals, or conducting business with state-owned entities of sanctioned countries.
2. The law aims to provide clarity and uniformity in enforcing sanctions, ensuring that companies and individuals understand the specific actions that are prohibited under the sanctions regime.
3. By setting clear definitions for violations, the new law seeks to enhance compliance with sanctions measures, ultimately strengthening the effectiveness of sanctions in achieving their intended goals.