Greece

Global sanctions guide

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  1. Does Greece have a sanctions regime in place? 

Yes.

  1. Does Greece implement UN sanctions? 

Yes. Greece is a member of the European Union, which implements UN sanctions in all member states by way of directly effective regulations.

  1. Does Greece implement an autonomous sanctions regime? 

No.

  1. What is the nature of the sanctions regime in Greece? 

Greece follows the restrictive measures laid down by the UN, the EU and other international organisations which are binding on Greece. Of the UN sanctions which have not been directly incorporated into Greek law by way of EU regulations, most are implemented pursuant to presidential decrees or ministerial decisions which are then published in the Governmental Gazette. Less commonly, they are implemented using national legislation – for example UN resolutions relating to external trade have been implemented by way of Laws 92/1967 and 4072/2012, and UN resolutions relating to certain criminal offences such as terrorism have been implemented by way of Law 3251/2004.

The Financial Sanctions Unit disseminates the relevant resolutions and regulations and introduces any relevant lists to all obligated persons.

  1. Does Greece maintain a list of sanctioned individuals and entities? 

No. Greece relies on UN and EU sanctions lists.

  1. Are there any other lists related to sanctions? 

No.

  1. Does Greece have a licensing or authorisation system in place? 

No. However, the General Directorate of Policy Planning and Administration (part of the Ministry of Finance) may authorise exceptions in relation to export embargoes.

  1. What are the consequences for a breach of sanctions in Greece? 

The consequences for a breach of sanctions implemented by presidential decree are a fine and/or imprisonment for up to 5 years.

The consequences for a breach of sanctions relating to imports and exports are a fine, exclusion from the market for up to a year, and/or imprisonment for up to 5 years.

  1. Who are the relevant regulators in Greece and what are their contact details?

The Financial Intelligence Unit is responsible for combating money laundering and terrorist financing.

Financial Intelligence Unit
207 Pireos & 92 Alkifronos Str.
118 53 Athens
Greece

T: (+30) 210 340 1933
www.hellenic-fiu.gr

The General Directorate of International Economic Policy, Directorate of Import-Export Regimes and Trade Instruments (part of the Ministry of Development and Competitiveness) is responsible for import and export controls.

Ministry of Development and Competitiveness
General Directorate of International Economic Policy
Directorate of Import-Export Regimes and Trade Instruments

Ermou and Kornarou 1
Athens 105 63
Greece

T: (+30) 210 328 6021
F: (+30) 210 328 6094
E: e3@mnec.gr  /  e3a@mnec.gr

Contributor law firm

Zepos & Yannopoulos, 280 Kifissias Ave. 152 32 Halandri, Greece

T: +30 210 696 7000
F: +30 210 69 94 640
d.zepos@zeya.com
http://zeya.com/