UN Sanctions

OVERVIEW

The United Nations Security Council (UNSC) has the primary responsibility under the United Nations Charter to maintain international peace and security. For this purpose, the UNSC may adopt measures which include:

• economic sanctions, arm embargoes, financial penalties and restrictions, and travel bans;
• governance of diplomatic relations;
• blockade; or
• collective military action

As a member of the United Nations, Sri Lanka is obliged to comply with the Resolutions issued by UNSC. As per the United Nations Act No 45 of 1968, the Minister of Foreign Affairs is required to issue Regulations promulgating such resolutions of the UNSC.

Once the Regulation issued by Minister of Foreign Affairs is tabled in the Parliament it becomes effective and required to be implemented by the relevant authorities as prescribed in such Regulation.

Financial Institutions and Designated Non Finance Businesses and Professions (DNFBPs) have the obligation to implement financial restrictions/ financial sanctions by freezing all funds, financial assets and economic resources owned or controlled directly or indirectly by individuals or entities designated by the UNSC or persons acting on their behalf. In addition, the reporting institutions are also prohibited from providing any financial services to the designated individuals and entities. Necessary guidance on the implementation required to be provided by the relevant authorities as required by the Regulation.

SANCTIONS RELATED TO TERRORISM AND TERRORISM FINANCING

SANCTIONS RELATED TO PROLIFERATION OF WEAPONS OF MASS DESTRUCTION (WMD)