Pursuant to Article 5.2 of the Law of the Republic of Azerbaijan “On Targeted Financial Sanctions”, the international sanctions list has been updated in accordance with the decision of the United Nations Security Council ISIL (Da’esh) and Al-Qaida Sanctions Committee dated 16 January 2023.

It should be noted that the term “individuals and entities subject to sanctions” refers to persons included in the national list based on decisions of the courts of the Republic of Azerbaijan, as well as persons included in the international list based on decisions of the sanctions committees of the United Nations Security Council.

The latest versions of the national and international sanctions lists have been published on the official website of the Financial Monitoring Service at www.hms.gov.az.

In accordance with the Law of the Republic of Azerbaijan “On Targeted Financial Sanctions”, obliged entities are required, without prior notice and without delay, to freeze the assets of individuals and entities subject to sanctions, as well as assets owned or controlled, directly or indirectly, individually or jointly with others, by such persons, and any other assets derived from such assets. They are also required to freeze the assets of individuals and entities acting on behalf of or at the direction of persons subject to sanctions, as well as the assets of entities owned or controlled, directly or indirectly, individually or jointly with others, by such persons.

Obliged entities must immediately notify the State Security Service and the Financial Monitoring Service of such measures through hms.gov.az.