Version 1.0, 2 February 2017
For years, the United Nations (UN), the European Union (EU) and the United States (US) have been applying restrictive measures (sanctions) against certain countries in order to bring about a change of activities and policies in those countries. These measures include financial restrictions (payments, letters of credit, credits); general or specific trade restrictions (import and export bans); arms embargoes; restrictions on admission (visa or travel bans).
The Fritom Group has established procedures to comply with applicable sanctions in the jurisdiction in which it operates. This includes sanctions imposed by the European Union (EU) and the programs administered by the Office of Foreign Assets Controls (OFAC, part of U.S. Treasury Department) and locally applicable sanctions laws.
In addition to external sanctioning laws and regulations, a number of sanctioned countries are subject to additional regulations that do not permit certain customer relationships and transactions. These sanctioning countries are subject to extensive EU and/or OFAC sanctioning regimes. Currently, additional regulations apply to Cuba, Iran, North Korea, Sudan and Syria. Additional regulations apply to transactions in relation to entities listed on the OFAC Specially Designated List (SDN).
Rijksoverheid (The Netherlands)
U.S. Department of the treasury