What is the Autonomous Sanctions

What are Autonomous Sanctions

Autonomous sanctions refer to the independent implementation and enforcement of a sanctions regime by a single entity, be it a government or a coalition of governments, such as the European Union.

What are Autonomous Sanctions?

Autonomous sanctions are restrictive measures imposed by a single entity, without direct mandate from an international body like the United Nations. These sanctions are implemented to address specific policy objectives, such as human rights violations, terrorism, or nuclear proliferation, and reflect the independent decision-making of the imposing entity.

What are the Three Types of Sanctions?

While classifications can vary, the three primary types of sanctions are generally:

• Economic Sanctions: These target financial transactions, trade, and investments, aiming to disrupt the economy of the targeted entity.
• Diplomatic Sanctions: These involve measures such as travel restrictions, expulsion of diplomats, and limitations on diplomatic relations.
• Military Sanctions: These include arms embargoes, military interventions, and other measures aimed at restricting military capabilities.
  
  

What are the Classification of Sanctions?

Sanctions can be classified in various ways, including:

• Unilateral Sanctions: Imposed by a single country.
• Multilateral Sanctions: Imposed by multiple countries or international organisations.
• Targeted Sanctions: Focused on specific individuals or entities.
• Sectoral Sanctions: Aimed at specific industries or sectors of the economy.
  
  

What is an Example of a Sanction?

An example of an autonomous sanction is the European Union's sanctions regime against certain individuals and entities involved in human rights violations. These sanctions include asset freezes and travel bans, imposed independently by the EU.

Autonomous sanctions add to the complexity of watchlist screening. Robust AML procedures, and robust KYC, are vital to ensure compliance with differing sanctions regimes. Services such as SmartSearch can help to maintain up-to-date records and assist in identifying high-risk clients.