Sanctions

24. The U.A.E, as a member of the United Nations, is required to comply with all Sanctions issued and passed by the UNSC. The U.A.E periodically publicises its imposition of Sanctions. These UNSC obligations apply in the ADGM and their importance is emphasised by specific obligations contained in the AML Rulebook requiring Relevant Persons to establish and maintain effective systems and controls to make appropriate use of UNSC Sanctions and Resolutions (see Chapter 11).
25. The FATF has issued guidance on a number of specific UNSC Sanctions and Resolutions regarding the countering of the proliferation of weapons of mass destruction. Such guidance has been issued to assist in implementing the targeted financial Sanctions and activity based financial prohibitions. This guidance can be found on the FATF website (at www.fatf-gafi.org).
26. In relation to unilateral Sanctions imposed in specific jurisdictions such as the European Union, the U.K. ("HM Treasury") and the U.S. (by the Office of Foreign Assets Control ("OFAC")) and any other Sanctions that may apply to the Relevant Person's business partners and customers, the Regulator expects a Relevant Person to consider and take positive steps to ensure compliance where required or appropriate.
Amended on (3 February, 2020).