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LAW OF THE AZERBAIJAN REPUBLIC

of December 30, 2022 No. 782-VIQ

About target financial sanctions

This Law according to Items 15 and 20 of part I of article 94 of the Constitution of the Azerbaijan Republic determines the legal basis and procedure for application of target financial sanctions for the purpose of prevention of terrorism, financing of terrorism, distribution of weapons of mass destruction and financing of distribution of weapons of mass destruction according to relevant resolutions of the Security Council of the United Nations.

Chapter 1. General provisions

Article 1. Basic concepts

1.1. The concepts used for the purposes of this Law have the following values:

1.1.1. the physical persons and structures which are subject to application of the sanction - physical persons and structures to which it is necessary to apply the sanction within fight against terrorism and terrorism financing, distribution and financing of distribution of weapons of mass destruction based on the legislation and international treaties which the Azerbaijan Republic, and also resolutions of the Security Council of the United Nations which list is determined by the body (structure) determined by relevant organ of the executive authority joined;

1.1.2. target financial sanctions - the prohibitions directed to prevention of extraction by direct or indirect way by the physical persons and structures which are subject to application of the sanction, benefit from assets, or measure of freezing of assets of the specified physical persons and structures;

1.1.3. financing of distribution of weapons of mass destruction - collection or transfer of assets, the used fully or partially for the purpose of production, acquisition, development and enhancement, import, export, transit transportation, transfer, collection or use of nuclear, chemical, bacteriological (biological) and toxic weapon, and also means of its delivery (warheads of ballistic and cruise missiles of various range, remotely-controlled fighting systems) and related materials (including the technologies used for the illegal purposes and dual-use goods) contrary to the legislation and the international obligations undertaken by the Azerbaijan Republic, and equally in ownership of this weapon or intermediary (broker) activities in its international delivery and also ensuring financial services;

1.1.4. structures - the legal entities, groups, the organizations and the companies which are not legal entities, the state or non-state bodies (structures);

1.1.5. assets - the material and non-material property benefits of any kind, irrespective of acquisition method (financial assets, economic resources (including oil and other natural resources), personal or real estate, mailings, bank loans, letters of credit, travel checks, bank checks, bonds, bills of exchange, shares and other securities, virtual assets, and also percent, dividends or other income from acquisition of such property benefits, and also legal documents of any kind, including the electronic (digital), confirmatory rights to these property benefits, and also other assets of any kind which can be used for acquisition of these property benefits;

1.1.6. freezing of assets - prohibition of the translation, converting, movement of assets, the stipulated in Article 4.1 presents of the Law, and also order these assets or implementation with them financial transactions in this or that form or other transactions;

1.1.7. the international lists - lists which include the physical persons and structures which are subject to application of the sanction by the committees on sanctions created by the Security Council of the United Nations for the purpose of prevention of terrorism and financing of terrorism, and also distribution and financing of distribution of weapons of mass destruction;

1.1.8. the intra country list - the list which based on decisions of the courts of the Azerbaijan Republic includes the physical persons and structures which are subject to application of the sanction within fight against terrorism and terrorism financing;

1.1.9. information Internet resource according to target financial sanctions - the information Internet resource created and managed by the body (structure) determined by relevant organ of the executive authority for the purpose of application of target financial sanctions;

1.1.10. economic resources - all types of property, the actual or potential natural resources, energy resources, and also the animals and plants allowing to acquire assets, goods or services;

1.1.11. instantly - implementation of the actions provided by this Law, immediately or within several hours.

Article 2. Legislation on target financial sanctions

The legislation on target financial sanctions consists of the Constitution of the Azerbaijan Republic, this Law, the Law of the Azerbaijan Republic "About counteraction of legalization of the money received in the criminal way or other property and to terrorism financing", other regulatory legal acts and the international agreement which the Azerbaijan Republic joined.

Chapter 2. Target financial sanctions and procedure for their application

Article 3. Target financial sanctions

3.1. Target financial sanctions, without replacing the measures applied within criminal trial have the advancing character and provide the following measures for the purpose of prevention of terrorism, financing of terrorism, distribution and financing of distribution of weapons of mass destruction:

3.1.1. immediate freezing of assets;

3.1.2. prohibition on providing the physical persons and structures which are subject to application of the sanction, assets, economic resources or financial and other connected services.

3.2. At the time of implementation of the measures connected with freezing of assets, assets remain in property of the physical persons or structures having share in these assets. The specified assets can be left under control of the third parties or be controlled these persons by means of other legal mechanisms applied before freezing of assets and also according to other rules established by regulatory legal acts.

Article 4. Assets to which target financial sanctions are applied

4.1. Irrespective of, they are connected directly with terrorism, terrorism financing, activities for distribution or financing of distribution of weapons of mass destruction or not, the following assets are subject to freezing:

4.1.1. assets of the physical persons and structures which are subject to application of the sanction;

4.1.2. the assets which are directly or indirectly, solely or together with others in property or under control of the physical persons and structures which are subject to application of the sanction and also other assets received by means of such assets;

4.1.3. assets of the physical persons and structures functioning from name or at the request of the physical persons and structures which are subject to application of the sanction;

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