The Eritrea (Sanctions)(Overseas Territories) Order 2012 - Advisory Warning No. 10 of 2013 (2013-03-13)

Summary

This is an advisory notice from the BVI Financial Services Commission informing the public that the Eritrea (Sanctions) (Overseas Territories) Order 2012 (UK S.I. 2012 No. 2751) was ratified and extended to the British Virgin Islands on 7 February 2013. The Order implements United Nations Security Council sanctions against Eritrea (Resolution 1907 of 2009, with exemptions under Resolution 2060 of 2012) and corresponding EU sanctions under Council Decision 2010/127/CFSP.

• Arms embargo: Prohibits the direct or indirect sale, supply or transfer to Eritrea of arms and related material, and prohibits obtaining arms and related material from Eritrea.
• Technical/financial assistance ban: Prohibits supplying technical assistance, training, financial or other specified assistance to Eritrea, and prohibits obtaining such assistance from Eritrea.
• Asset freeze: Freezes funds and economic resources owned or controlled by persons or entities designated by the UN Security Council Committee under Resolutions 751 (1992) and 1907 (2009) concerning Somalia and Eritrea.
• Prohibition on making funds available: Prohibits making funds or economic resources available to designated persons or entities.
• Targeted arms/assistance ban: Prohibits sale, supply or transfer of arms and related material and supply of technical, financial or other assistance to designated persons or entities.

The notice does not itself impose new obligations beyond drawing attention to the binding prohibitions already contained in the Order, and directs readers to the full text of the relevant UN resolutions, EU decision, and UK statutory instrument for details.

Key obligations

• Persons and entities must not directly or indirectly sell, supply or transfer arms and related material to Eritrea, or obtain such items from Eritrea
• Persons and entities must not supply or obtain technical assistance, training, financial or other specified forms of assistance to or from Eritrea
• Persons and entities must freeze funds and economic resources owned or controlled by UN-designated persons or entities linked to Eritrea and Somalia sanctions
• Persons and entities must not make funds or economic resources available to UN-designated persons or entities
• Persons and entities must not sell, supply or transfer arms or provide technical, financial or other assistance to UN-designated persons or entities