Sectoral Sanctions definition

Sectoral Sanctions means any Sanctions imposed by any Sanctions Authority that do not freeze or block the assets and/or economic resources of a designated person or comprehensively freeze or block making available funds or economic resources to such designated person, but merely restrict the ability of certain individuals or entities to access financing or export or import equipment, goods, technology or services, including, for the avoidance of doubt, the Sanctions imposed under the Sectoral Sanctions Identification List maintained by the Office of Foreign Assets Control of the US Department of Treasury;
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Sectoral Sanctions means sanctions imposed by any sanctions authority which do not freeze the assets of or prohibit the provision of any funds or economic resources to a designated person, but merely restrict the ability of certain individuals or entities to access financing or export or import goods, technology, or services.The representation in (13) above shall be deemed not to be required on the Settlement Date if and only to the extent that it is or would be unenforceable by reason of breach of (i) any provision of Council Regulation (EC) no 2271/1996 of 22 November 1996 (or any law or regulation implementing such Regulation in any Member State of the European Union or the United Kingdom) or (ii) any similar blocking or anti-boycott law, regulation or order in the United Kingdom or other relevant jurisdiction;
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Sectoral Sanctions means restrictions focused on specific industries within a particular country or region. An example of where such sanctions currently apply is Russia.
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Examples of Sectoral Sanctions in a sentence

  • Neither the Company nor any of its Subsidiaries is included on the Specially Designated Nationals and Blocked Persons List, the Foreign Sanctions Evaders List or the Sectoral Sanctions Identifications List maintained by OFAC or any publicly available Sanctions-related list of designated Persons maintained by the U.S. Department of Treasury or the U.S. Department of State or the European Union (collectively, the “Sanctions Lists”).

  • Customer further understands that persons subject to U.S. sanctions or other prohibitions include, but are not limited to, individuals or entities identified on or in the U.S. Department of Commerce’s Denied Persons List, Unverified List, or Entity List; the U.S. Department of State’s Nonproliferation Sanctions determinations; or OFAC’s Specially Designated Nationals List, Foreign Sanctions Evaders List, or Sectoral Sanctions Identifications List.

  • Similar to EU sanctions, U.S. sanctions also entail restrictions on certain exports from the United States to Russia and the imposition of Sectoral Sanctions which restrict the provision of equity and debt financing to designated Russian entities.

  • The SSI List may be searched on the OFAC website at Sectoral Sanctions Identifications (SSI) List.

  • Seller further agrees to determine whether it is, and represents that it is not, owned directly, indirectly, or in the aggregate fifty percent (50%) or more by Specially Designated Nationals (“SDN”) or parties designated on Sectoral Sanctions Identifications Lists (“SSI”) or Foreign Sanctions Evaders List ("FSE") under Executive Orders of the President of the United States or the regulations of OFAC.

  • The primary purpose of Executive Order 13662 was to focus on entities in certain sectors of the Russian economy, such as “financial services, energy, metals and mining, engineering, and defense and related materiel.” Each Directive governs activities between US persons and those listed on the Sectoral Sanctions Identifications SSI List.

  • Subject to credit approval, all balances must be payable net thirty (30) days or as otherwise provided for in the Quotation unless Customer is an entity listed in to the United States Office of Foreign Asset Control (“OFAC”) Sectoral Sanctions Index, in which case Section 13(b) of these Terms and Conditions shall supersede this section.

  • Neither the Company nor any of its Subsidiaries is included on the Specially Designated Nationals and Blocked Persons List, the Foreign Sanctions Evaders List or the Sectoral Sanctions Identifications List maintained by OFAC or any publicly available Sanctions-related list of designated Persons maintained by the U.S. Department of Treasury, His Majesty’s Treasury of the United Kingdom or the U.S. Department of State or the European Union (collectively, the “Sanctions Lists”).

  • In particular, the US “sectoral sanctions” (i.e., sanctions targeting persons operating in certain sectors of the Russian economy, including the financial services, energy, and defense and related materiel sectors) have been imposed pursuant to EO 13662.The EOs established the legal framework for implementing sanctions and do not result in automatic designation on the Sanctions Designated nationals List (the “SDN List”) or the Sectoral Sanctions Identifications List (the “SSI List”).

  • Sectoral Sanctions: The Directives1 Since 2014, the OFAC has maintained four “Directives” that impose targeted sanctions upon key elements of the Russian economy, all of which were promulgated under Executive Order 13662.

Related to Sectoral Sanctions

  • OFAC Sanctions means any sanctions program administered by the Office of Foreign Assets Control of the United States Department of the Treasury (“OFAC”) under authority delegated to the Secretary of the Treasury (the “Secretary”) by the President of the United States or provided to the Secretary by statute, and any order or license issued by, or under authority delegated by, the President or provided to the Secretary by statute in connection with a sanctions program thus administered by OFAC. For ease of reference, and not by way of limitation, OFAC Sanctions programs are described on OFAC’s website at xxx.xxxxx.xxx/xxxx.

  • Economic Sanctions refers to sanctions imposed by the U.S. government in response to Russia’s actions in Ukraine, as well as any sanctions imposed under state law. The EO directs state agencies to terminate contracts with, and to refrain from entering any new contracts with, individuals or entities that are determined to be a target of Economic Sanctions. Accordingly, should the State determine Contractor is a target of Economic Sanctions or is conducting prohibited transactions with sanctioned individuals or entities, that shall be grounds for termination of this agreement. The State shall provide Contractor advance written notice of such termination, allowing Contractor at least 30 calendar days to provide a written response. Termination shall be at the sole discretion of the State.

  • OFAC Sanctions Programs means all laws, regulations, and Executive Orders administered by OFAC, including without limitation, the Bank Secrecy Act, anti-money laundering laws (including, without limitation, the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. 107-56 (a/k/a the USA Patriot Act)), and all economic and trade sanction programs administered by OFAC, any and all similar United States federal laws, regulations or Executive Orders, and any similar laws, regulators or orders adopted by any State within the United States.

  • U.S. Economic Sanctions is defined in Section 5.16(a).

  • OFAC Sanctions Program means any economic or trade sanction that OFAC is responsible for administering and enforcing. A list of OFAC Sanctions Programs may be found at xxxx://xxx.xxxxxxxx.xxx/resource-center/sanctions/Programs/Pages/Programs.aspx.

  • State Sanctions List means a list that is adopted by any state Governmental Authority within the United States of America pertaining to Persons that engage in investment or other commercial activities in Iran or any other country that is a target of economic sanctions imposed under U.S. Economic Sanctions Laws.

  • Specially Designated Nationals and Blocked Persons list maintained by the Office of Foreign Assets Control of the United States Department of the Treasury found at: xxxxx://xxx.xxxxxxxx.xxx/ofac/downloads/sdnlist.pdf;

  • Sanctions Programs means any OFAC economic sanction program (including, without limitation, programs related to Crimea, Cuba, Iran, North Korea, Sudan and Syria).

  • Foreign Assets Control Regulations has the meaning set forth in Section 10.18.

  • Foreign Asset Control Regulations has the meaning set forth in Section 10.18.

  • Sanctions List means the “Specially Designated Nationals and Blocked Persons” list issued by OFAC, the “Consolidated List of Financial Sanctions Targets and Investment Ban List” issued by HMT, or any similar list issued or maintained or made public by any of the Sanctions Authorities.

  • Sanctions means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom.

  • U.S. Economic Sanctions Laws means those laws, executive orders, enabling legislation or regulations administered and enforced by the United States pursuant to which economic sanctions have been imposed on any Person, entity, organization, country or regime, including the Trading with the Enemy Act, the International Emergency Economic Powers Act, the Iran Sanctions Act, the Sudan Accountability and Divestment Act and any other OFAC Sanctions Program.

  • Trafficking means offering, attempting to engage, or

  • Economic Sanctions Laws means those laws, executive orders, enabling legislation or regulations administered and enforced by the United States pursuant to which economic sanctions have been imposed on any Person, entity, organization, country or regime, including the Trading with the Enemy Act, the International Emergency Economic Powers Act, the Iran Sanctions Act, the Sudan Accountability and Divestment Act and any other OFAC Sanctions Program.

  • OFAC SDN List means the list of the Specially Designated Nationals and Blocked Persons maintained by OFAC.

  • SDN List means the Specially Designated Nationals and Blocked Persons List maintained by OFAC.

  • Foreign Assets means any of the Portfolios’ investments (including foreign currencies) for which the primary market is outside the United States and such cash and cash equivalents as are reasonably necessary to effect the Portfolios’ transactions in such investments.

  • Human trafficking means a scheme or plan to which all of the following apply:

  • Sanctions Authorities means the respective governmental institutions and agencies of any of the United States, the United Nations, the European Union, the United Kingdom, including without limitation, OFAC, the United States Department of State, and Her Majesty's Treasury;

  • Sanctions Target means any Person: (a) that is the subject or target of any Sanctions; (b) named in any Sanctions-related list maintained by OFAC, the U.S. Department of State, the U.S. Department of Commerce or the U.S. Department of the Treasury, including the OFAC list of “Specially Designated Nationals and Blocked Persons;” (c) operating, organized or resident in a Sanctioned Jurisdiction; or (d) owned or controlled by any such Person or Persons described in the foregoing clauses (a)-(c).

  • Sex trafficking means the recruitment, harboring, transportation, provision, or obtaining of a person for the purpose of a commercial sex act.

  • Trafficking in persons means the recruitment, transportation, transfer, harbouring or receipt of persons, by means of the threat or use of force or other forms of coercion, of abduction, of fraud, of deception, of the abuse of power or of a position of vulnerability or of the giving or receiving of payments or benefits to achieve the consent of a person having control over another person, for the purpose of exploitation. Exploitation shall include, at a minimum, the exploitation of the prostitution of others or other forms of sexual exploitation, forced labour or services, slavery or practices similar to slavery, servitude or the removal of organs;

  • Attack directed against any civilian population means a course of conduct involving the multiple commission of acts referred to in paragraph 1 against any civilian population, pursuant to or in furtherance of a State or organizational policy to commit such attack;

  • OFAC means the Office of Foreign Assets Control of the United States Department of the Treasury.

  • National Road Traffic Act means the National Road Traffic Act, 1996 (Act 93 of 1996);