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SECO amends 1 individual sanctioned under Syrian financial sanctions program

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21 May 2021 International sanction 2021

Updated sanction notification

The Federal Department of Economic Affairs, Education and Research EAER has published an amendment to Annex 7 of the Ordinance of 8 June 2012 on Measures against Syria (SR 946.231.172.7).

On May 20, 2021, the Federal Department of Economic Affairs, Education and Research EAER changed the list of persons, companies and organizations sanctioned in this context. The change is directly applicable in Switzerland. The EAER has therefore adapted the SESAM (SECO Sanctions Management) sanctions database, which is relevant for Switzerland, and published the adaptation on its website . The change will take effect on May 21, 2021 at 6 p.m.

The financial intermediaries are requested to block the relevant assets immediately and to report such business relationships to SECO in accordance with the provisions of the ordinance. Reporting to SECO does not release a financial intermediary from reporting to the Money Laundering Reporting Office immediately if the requirements are met in accordance with Art. 9 of the Money Laundering Act.

Swiss officials updated the following individual designation under the Syrian sanctions program:

SSID: 200-11857 Name: Nizar Al-Assad
Sex: M DOB: a) 2 Mar 1948 b) 23 Mar 1948 c) Mar 1948 Good quality a.k.a.: al-Asad (Assad, AsadAsad, Assaad, Asaad, Al-Assaad) Nationality: a) Syrian Arab Republic b) Lebanon c) Canada Identification document: a) Passport No. 011090258, Syrian Arab Republic b) Passport No. RL0003434, Lebanon c) Passport No. AG629220, Canada Justification: a) Leading Syrian businessperson with close ties to the regime. Cousin of Bashar al-Assad, and associatedAssociated with the Assad and Makhlouf families. b) As such, he has been participating in, benefittingbenefiting from or otherwise supporting the Syrian regime. c) Leading oil investorinvestor, founder and previously head of the ‘Nizar Oilfield Supplies’Lead Contracting & Trading Ltd company. Relation: Cousin of Bashar Al- Assad (SSID 200-11614) Modifications: Amended on 6 Nov 2013, 19 Jan 2016, 12 Jun 2018, 13 Aug 2019, 1 Oct 2019, 26 Jun 2020, 21 May 2021

Links:

FINMA Notice

Data files of updates – PDF, XML

Categories: Sanctions Lists SECO Updates Syrian Sanctions

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