Financial restrictive measures
The continual changes to the restrictive measures mean that it is important to regularly check the current status!
In the area of financial restrictive measures or sanctions, Banka Slovenije has the role of supervisory authority in respect of entities over whom it conducts supervision in accordance with other regulations (supervised entities). The financial restrictive measures include asset freezes and prohibitions on making funds or economic resources available and providing financial services as defined in European Union (EU) regulations on restrictive measures. In this role Banka Slovenije is empowered to monitor a supervised entity’s compliance with the restrictive measures and to verify that they are systemically competent to operate in accordance with them.
The sanctions put in place by the UN Security Council are being implemented in the EU, while at the same time the EU is also implementing independent restrictive measures, which it is doing by adopting the relevant decisions and regulations, which the Member States are required to uphold in their legal systems.
In Slovenia all restrictive measures are governed by the Act Governing Restrictive Measures Introduced or Implemented by the Republic of Slovenia in Compliance with Legal Instruments and Decisions Adopted by International Organisations (ZOUPAMO). Under the ZOUPAMO, it is the Slovenian government that is responsible for the implementation of regulations by which restrictive measures have been introduced and are being applied in Slovenia. According to the amendment to the law, which has been in force since 13 April 2022, provides for the direct applicability of EU decisions and enables the immediate implementation of amendments to the UN sanctions lists.
To simplify the implementation of restrictive measures and to coordinate between the individual authorities, there is a standing coordinating group, which is headed by the Ministry of Foreign Affairs (MFA), which has published the relevant information on its website (Restrictive measures | GOV.SI).
The overview published on the MFA website: Restrictive measures by country also includes a link to restrictive measures in individual countries EU sanctions map (European Commission) and contains links to the legal acts by which the restrictive measures were introduced. A consolidated list of sanctioned individuals and entities can also be found on this link.
The latest information on restrictive measures currently in force can also be found on the European Commission website: Restrictive measures (sanctions) | European Commission (europa.eu), which also includes FAQs.
Recognizing that the exchange of information on violations of EU sanctions can contribute to the effectiveness of ongoing investigations in EU Member States and increase the effectiveness of EU sanctions, the EU has set up a whistleblowing channel. Anyone who is aware of possible breaches of EU sanctions can bring it to the attention of the EC. Violations can be reported directly to the EC at the following email address: firstname.lastname@example.org.
Further details are available at the following link.