Hellenic Anti-Money Laundering, Counter-Terrorist Financing and Source of Funds Investigation Authority The EU leaders’ summit on Friday did not bode well for Greece, especially as five countries are blocking sanctions against Turkey. The conventional short form for the country's name is Greece (Hellas or Ellada). The plan is to target Turkey over its provocations in the eastern Mediterranean which is a region rich in natural resources where Greece and Turkey have overlapping claims. News EU threatens Turkey with sanctions over East Mediterranean dispute. Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. More precisely, … Greek government calls the departure of the Oruc Reis from disputed waters after weeks of tension ‘a positive step’. Those are all positive signals that we had waited for for a long time, which should now not be strained by sanctions,” he said. EU momentum with Ankara over eastern Mediterranean dispute could encourage an update to the customs union, officials say 152 32 Halandri, Greece. In the most part, UN sanctions are implemented via presidential decrees or ministerial decisions and published in the Governmental Gazette. Eversheds Sutherland is a global provider of legal services operating through various separate and distinct legal entities. Turkish President Recep Tayyip Erdogan warned the European Union to “get rid of its strategic blindness” as Greece pushed the bloc to target Turkey with tougher sanctions … The official said Turkey’s recent outreach to France to overhaul relations could help Ankara’s cause on the customs union update at the Council, where Paris has a lot of influence. Its conventional official name is Hellenic Republic (Elliniki Dimocratia).The capital is Athens. He said a list of sanctions will be put before EU leaders at next week’s summit and whether they’ll be implemented will depend on Turkey’s actions. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client. France, Greece, and Cyprus are pushing for action against Turkey, but other EU nations including Germany, Italy and Poland oppose slapping broad sanctions or an embargo on a … "Any decision to impose sanctions against Turkey won't be of great concern to Turkey," Erdogan told reporters. Confidence building measures will definitely be needed,” the official added. Since the Constitution was signed in 1975 after the military junta of 1967-1975 and a referendum which rejected the monarchy, the newly built democratic Greek system is a parliamentary republic with the President … The resumption of exploratory talks between Turkey and Greece on Monday took place in a very positive atmosphere, Turkish Foreign Minister Mevlüt Çavuşoğlu said. We expect that. Greece, Cyprus threaten EU sanctions against Turkey over Varosha. The official said Brussels was betting on the continuity of the exploratory talks between Turkey and Greece. Some European countries, such as Italy and Spain, had been against imposing news sanctions on Turkey, concerned by the economic and political ramifications. “If the report is positive, then the negotiations on the update will become more concrete and fruitful; otherwise, sanctions would be considered,” the official added. Since then Turkey has taken conciliatory steps towards the Union, by withdrawing its seismic research ships, and making high-level visits to Brussels, reiterating Ankara’s willingness to join the union and open a new page. Now France could be planning a retaliation. Yes, the Kingdom of Spain has a sanctions regime governed by the Money Laundering and Counter-Terrorism Act 10/2010 of 28 of April, 2010, (“Act 10/2010”). Greece's foreign minister said he hoped Turkey would have a positive approach towards a meeting next week aimed at reviving long-stalled efforts to … An EU plan to impose additional sanctions on Turkey will backfire and only make the chance of reaching agreement over the growing Greek-Turkish contest … Greece and Cyprus have been pushing for tougher EU action in their ongoing political and military standoff with Turkey over natural gas reserves recently discovered in the Mediterranean basin. Greece is a member of the UN and the EU. "There are no Turkish ships in the contested areas in the eastern Mediterranean anymore; exploratory talks between Turkey and Greece have begun this evening in Istanbul. The Macron government is reportedly leading a diplomatic effort for sanctions against Turkey at the European Union. EU Regulations have direct effect in Greece and UN resolutions are incorporated into national law pursuant to Law 92/1967 and Law 4072/2012 (which relate to external trade). Greece, T: (+30) 210 328 6021, +30 328 6022, +30 328 6037 Greece’s Foreign Affairs Minister Nikos Dendias has confirmed that the EU will react in response to Turkish provocation in the East Med following his meeting at the EU Foreign Affairs Council in Brussels on Monday, a fact that EU Commission Vice President Josep Borrell also hinted at. The European Union imposed sanctions on Turkey in July 2019 for drilling in the Exclusive Economic Zone (EEZ) of Cyprus. CNNTurk reported on Tuesday that Turkey had conveyed Ankara’s wishes to hold separate meetings with Greece on political consultations and confidence-building measures. © Middle East Eye 2021 - all rights reserved. European Union leaders approved additional sanctions to be imposed on Turkey last December over Ankara’s seismic research and drilling activities off the coasts of Cyprus and Greece, where Turkey disputes exclusive economic zone (EEZ) claims. After World War I, interest revived. A violation of sanctions implemented by presidential decree carries a sentence of up to five years imprisonment, a monetary fine, or both. Act 10/2010 implements Directive 2005/60/CE of the European Parliament and Council, of 26 October 2005, on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing. The European Union has decided to hold off on sanctions against Ankara following the positive spirit created by the latest bilateral engagements and exploratory talks between Turkey … National legislation is only required when a more solid ground for implementation is necessary. But as long as they are constructive, we will support them. 15 Σεπτεμβρίου 2020, στο Μέγαρο Μαξίμου. © Middle East Eye 2021 - all rights reserved. Middle East Eye          ISSN 2634-2456                    Â, EU momentum with Ankara over eastern Mediterranean dispute could encourage an update to the customs union, officials say, Turkish Foreign Minister Mevlut Cavusoglu, left, and High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell, pictured in Brussels on 21 January 2021 (AFP), Eastern Mediterranean: Turkey withdraws ships from contested waters, EU delays Turkey sanctions over positive talks with Greece. 1 Athens 105 63 T: (+30) 210 340 1933 Greek Foreign Minister Nikos Dendias said Turkey’s withdrawal of its survey ship and warship escorts was a positive step, but that Greece needs to make sure Ankara is sincere. No. F: (+30) 210 328 6094 No. The report could play a crucial role for Ankara, as Turkey would like to update the customs union that it has with Brussels. European Council President Charles Michel, center, arrives for a round table meeting at an EU summit in Brussels, Thursday, Dec. 10, 2020. ... said that Monday’s meeting of the bloc’s top diplomats showed a widespread view that “the situation is not a positive one,” while declining to speculate about what the bloc’s leaders will decide to do. READ: Turkey to open new page of dialogue with EU, US in 2021 EU delays Turkey sanctions over positive talks with Greece middleeasteye.net - Ragip Soylu. Turkey has also sent an invitation to Greece to hold another round of exploratory talks after five years of hiatus. “The preparations to determine the name of the individuals or entities continue, but the council doesn’t want to do it for now, considering the ongoing talks,” an EU official, speaking anonymously, told Middle East Eye. Greece's minister of foreign affairs will ask the EU on Monday (13 July) for a list of potential sanctions against Turkey in case Ankara violates Greek territory. Greece says if Turkey does not reverse reopening part of Cypriot ghost town, it may seek to trigger economic sanctions. He added: "Those are all positive signals that we had waited for a long time, which should now not be strained by sanctions." European Union leaders meet for a year-end summit that will address anything from climate, sanctions against Turkey to budget and virus recovery plans. The Financial Sanctions Unit disseminates the relevant Resolutions and Regulations and introduces any relevant lists to all obligated persons. After the failure of the Embargo Act of 1807 the federal government of the United States took little interest in imposing embargoes and economic sanctions against foreign countries until the 20th century. “It is important to maintain the positive momentum until March, when High Representative Joseph Borell presents a report on Turkey to the European Council,” the EU official said. more specifically, the Financial Sanctions Unit Against Terrorist Suspects (Unit B). In an important move, Greece and Turkey agreed to restart long-stalled exploratory talks on their maritime dispute next week. Greece relies on the EU consolidated list. United States trade policy was entirely a matter of economic policy. For example, Law 3251/2004 qualifies certain criminal offences as terrorist acts punishable by severe penalties. Chinese investment in Haifa port could compromise US-Israel intelligence sharing: Report, 'Health Silk Road': Why the UAE adopted China's Covid-19 vaccine, US's plans to restore aid to Palestinians 'fully comply with law,' Biden team says, 'Dear Tayyip': Erdogan and Macron exchanged letters to repair ties, Greece, Egypt want Biden to play 'decisive role' in Turkey maritime dispute, Mesut Ozil: How the politicised playmaker is already causing a stir in Turkey. E: e3@mnec.gr, e3a@mnec.gr, Zepos & Yannopoulos, A violation of measures relating to the export and import of trade that have been implemented into national legislation can result in administrative penalties, ranging from the exclusion from the market for up to one year to a monetary fine up to EUR100,000. The European Union has decided to hold off on sanctions against Ankara following the positive spirit created by the latest bilateral engagements and exploratory talks between Turkey and Greece. EU Regulations have direct effect in Greece and UN resolutions are incorporated into national law pursuant to Law 92/1967 and Law 4072/2012 (which relate to external trade). “If the worst happens, the Council will have the next steps ready and could act quickly.”. EU leaders have warned that Turkey could face sanctions if it does not cease its "provocations and pressures." Only England And Wales jurisdiction apply in all legal matters. W: www.hellenic-fiu.gr, Ministry of Development and Competitiveness, General Directorate of International Economic Policy, Directorate of Import-Export Regimes and Trade Instruments, Ermou and Kornarou Respective sanctions are provided also in Law 3691/2008 on the prevention of money laundering activities and the financing of terrorism by Parliament in May 2017 regarding money laundering, which, among other provisions would ratify the Convention of Warsaw 2005 on “Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism”. Concerned that their credibility is at stake, European Union leaders are set Thursday to give the green light to the expansion of sanctions against Turkey over its exploration of gas reserves in Mediterranean waters claimed by EU members Greece and Cyprus. Yes. Turkish and Greek officials met in Istanbul to resolve the neighbouring countries’ long-standing differences over maritime borders. The EU last year imposed light sanctions on two Turkish officials, which didn’t cause substantial damage to Turkish drilling operations. Occasionally, they are implemented by national legislation where UN quasi-legislative provisions need to be clarified and the elements of the criminal offence need to be set out specifically. After a marathon session of talks in Brussels on Thursday, EU leaders expressed solidarity with Greece and Cyprus and warned Turkey it would face sanctions over its … Although positive sanctions present A with less difficult surveillance problems, they do not do away with such problems altogether. A substantial update to the customs union that would allow Turkish companies to operate in the agriculture and services sectors as well as public tenders could pump billions of dollars into the Turkish economy, resulting in 1.84 percent annual growth, according to some Turkish academic estimates. 58 Cf. Galtung , Johan , “On the Effects of International Economic Sanctions: With Examples from the Case of Rhodesia,” World Politics, xrx (April 1967 ), 380 . Yes. Leaders of seven European countries on the Mediterranean met at a summit last week in Corsica where they said they were ready to back EU sanctions on Turkey over the dispute. However, the General Directorate of Policy Planning and Administration of the Ministry of Economy and Finance is able to authorise exceptions in relation to export embargos. Maybe years. “These talks will take a long time. © Eversheds Sutherland 2018. International financial sanctions are imposed by virtue of EU regulations (on the basis of UNSC resolutions or autonomous EU resolutions) which are directly effective. Erdogan Warns EU of ‘Blindness’ as Greece Lobbies for Sanctions. Only England And Wales jurisdiction apply in all legal matters. 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