What are sanctions?

Sanctions are legal restrictions imposed by governments and international organisations to achieve foreign policy, national security, counter-terrorism, counter-proliferation and other public policy objectives.

Sanctions may apply to:

• individuals;
• companies and other entities;
• vessels and aircraft;
• governments and state bodies;
• countries and territories;
• specific goods and technologies; and
• particular sectors of an economy.

Sanctions can restrict or prohibit:

• the provision of legal services;
• the transfer of funds or economic resources;
• trade in goods or technology;
• access to financial services and capital markets; and
• a wide range of commercial activities.

A sanctions issue may therefore arise even where there is no suspicion of criminal property and no money laundering concern.