#ECOT2611064AFrance Freezes Assets of Prime Trade Under Syria Sanctions
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
France freezes the funds and economic resources of Prime Trade, a company listed at 3 Kazanine Street in Damascus, Syria, for six months. The measure also bans anyone from directly or indirectly making funds or economic resources available to the company during that period. Banks, financial institutions, insurers, exporters, suppliers, and any business with Syria-related exposure should screen Prime Trade and block any relevant assets or transactions. Compliance teams should update sanctions checks and stop payments, deliveries, or other economic support involving the listed entity.
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Key Changes
- Freezes Prime Trade’s funds and economic resources for six months
- Bans direct or indirect provision of funds or economic resources to Prime Trade
- Requires businesses and financial institutions to block relevant transactions from the publication date
Obligations
What this law requires
Freeze all funds and economic resources belonging to, owned, held, or controlled by Prime Trade, located at 3 Kazanine Street, Damascus, Syria, for six months.
Do not directly or indirectly make funds or economic resources available to Prime Trade for six months.
Do not directly or indirectly allow the use of funds or economic resources for the benefit of Prime Trade for six months.