12/76
  • Pages
  • Editions
01 Home
02 Austria
03 Belgium
04 Bulgaria
05 Croatia
06 Cyprus
07 Czech Republic
08 Denmark
09 Estonia
10 European Union
11 Finland
12 France
13 Germany
14 Greece
15 Guernsey
16 Hungary
17 Ireland
18 Isle of Man
19 Italy
20 Jersey
21 Latvia
22 Lithuania
23 Luxembourg
24 Malta
25 Netherlands
26 Norway
27 Poland
28 Portugal
29 Romania
30 Russia
31 Slovakia
32 Slovenia
33 Spain
34 Sweden
35 Switzerland
36 Turkey
37 United Kingdom
38 Cambodia
39 Hong Kong
40 India
41 Indonesia
42 Japan
43 Laos
44 Malaysia
45 Philippines
46 Singapore
47 South Korea
48 Vietnam
49 Australia
50 New Zealand
51 Bermuda
52 British Virgin Islands
53 Canada
54 Cayman Islands
55 Mexico
56 United States of America
57 Brazil
58 Colombia
59 Venezuela
60 Algeria
61 Cameroon
62 Egypt
63 Kenya
64 Mauritius
65 Nigeria
66 Seychelles
67 South Africa
68 Sudan
69 Tanzania
70 Uganda
71 Bahrain
72 Iran
73 Iraq
74 Lebanon
75 Saudi Arabia
76 UAE

France

1. Does France have a sanctions regime in place?

Yes.

2. Does France implement UN sanctions?

Yes. When a United Nations Security Council Resolution establishes a financial, economic and trade sanctions regime, each Member-State of the European Union is responsible for transposing it into national law and enforcing it. With regard to European Union Member States, the implementation of UNSC Resolutions may be carried out, in whole or in part, by the European Union as long as they fall within its jurisdiction.

3. Does France implement an autonomous sanctions regime?

Economic and financial sanctions are an instrument of France’s foreign and internal policy. They are designed to fight against money laundering, financing of terrorism, or other prohibited activities1. French law distinguishes three types of sanctions: sanctions decided by the UN, sanctions enacted at the European Union level and sanctions implemented at the national level which are neither of UN or EU origin. The autonomous French sanctions are implemented by decree or order pursuant to Articles L. 562-1 and seq. and R. 562-1 and seq. of the French Monetary and Financial Code. Accordingly, the French Minister of Economy and the Minister of the Home Affairs may decide, jointly, to take freezing measure, autonomous from the measures resulting from the UN and European sanctions regimes2.

4. What is the nature of the sanctions regime in France?

France follows the restrictive measures laid down by the UN, the EU and other international organizations which are binding under French law, as well as measures introduced autonomously. Autonomous sanctions measures include financial measures, in particular the freezing of assets in France. France can freeze assets belonging to persons within its territory pursuant to the Monetary and Financial Code (Articles L.561 and L.562)3.

The Code entitles the Minister of Economy and the Minister of the Home Affairs to jointly order the freezing of some or all of any funds, financial instruments and economic resources belonging to:

  • individuals or legal entities who commit, or attempt to commit, terrorist acts, or who facilitate or participate in such acts (Article L562-2),
  • legal entities directly or indirectly controlled by such individuals (Article L562-2).

The Ministry of Economy can unilaterally decide to order the freezing of all of any funds, financial instruments and economic resources belonging to:

  • individuals, legal entities or organizations which have committed, or commit, finance or support a breach of UN or EU sanctions, or which facilitate or participate in such acts; (Article L.562-3); and
  • legal entities directly or indirectly controlled by such individuals (Article L.562-3).

5. Does France maintain a list of sanctioned individuals and entities?

Yes. A national register of persons and entities subject to a freezing measure is established pursuant to Article R.562-2 of the Monetary and Financial Code4. This register lists all persons, entities and vessels subject to asset freeze measures in force on the French territory, pursuant to national, European and UN decisions.

6. Are there any other lists related to sanctions?

Yes. French Customs maintain a map of embargoed countries5. The Treasury also maintains a summary list of all restrictive measures by country6.

7. Does France have a licensing or authorization system in place?

Yes. The General Directorate of the Treasury is responsible for issuing authorizations. Two types of authorization can be issued:

  • general license – this may be granted upon the request of the relevant financial institution or economic operator and remains effective until revoked. A general license will grant authorization for transactions of a specific type which would otherwise be subject to authorization; and
  • authorizations of a general nature – these are permanent authorizations which are publicized on its website under the relevant “country” section and under the applicable “national measures"7.

8. What are the consequences for a breach of sanctions in France?

According to Article 459 of the Customs Code8 and Article L574-3 of the Monetary and Financial Code, the consequence of the violation or attempted violation of the sanctions regime may result in imprisonment of up to five years, confiscation of the goods and/or the means of transport used, confiscation of the goods or assets resulting directly or indirectly from the breach, and a fine equal to at least the amount and up to the double of the amount of the violation or attempted violation.

9. Who are the relevant regulators in France and what are their contact details?

The Ministry for the Economy and Finance (Directorate-General of the Treasury) is responsible for administering financial and trade sanctions. Ministry for the Economy and Finance Directorate-General of the Treasury Télédoc 151 139, Rue de Bercy 75572 Paris Cedex 12 France T: (+33) 01 40 04 04 04 E: sanctions-gel-avoirs@dgtresor.gouv.fr http://www.economie.gouv.fr/ (French language only)

The Ministry of Foreign Affairs is responsible for administering sanctions relating to military equipment. Ministry of Foreign Affairs 37 Quai d’Orsay 75700 Paris 07 SP France T: (+33) 1 43 17 53 53 E: cieemg.dgp-asd-dt@diplomatie.gouv.fr http://www.diplomatie.gouv.fr/en/


1 https://www.tresor.economie.gouv.fr/services-aux-entreprises/sanctions-economiques/dispositif-national-de-gel-des-avoirs

2 https://www.amf-france.org/sites/default/files/2020-07/guide-gel-des-avoirs_vf1.pdf

3 https://www.legifrance.gouv.fr/affichCode.do?cidTexte=LEGITEXT000006072026&dateTexte=20170830

4 https://www.tresor.economie.gouv.fr/services-aux-entreprises/sanctions-economiques/tout-savoir-sur-les-personnes-et-entites-sanctionnees

5 https://www.google.com/maps/d/u/0/viewer?mid=198oYCCQQSKzPt7GmXaeWHvBgt-Q&ll=19.738952116439624,33.883104212499916&z=2

6 https://www.tresor.economie.gouv.fr/services-aux-entreprises/sanctions-economiques

7 https://sanctionsfinancieres.dgtresor.gouv.fr/Faq

8 https://www.legifrance.gouv.fr/affichCode.do;jessionid==2DFCBECD0C1BCC7BC146E0FB3D53694D.tpdila23v_3?idSectionTA=LEGISCTA000006122141&cidTexte=LEGITEXT000006071570&

Contributor law firm

Wesley Pydiamah,

Partner

Léonor d’Albiousse, Associate

Eversheds Sutherland (France),

8 Place D'Iéna,

Paris,

75116,

France

T: (+33) 1 55 73 41 22 WesleyPydiamah@eversheds-sutherland.com

T: (+33) 1 55 73 40 29

LeonorDAlbiousse@eversheds-sutherland.com http://www.eversheds-sutherland.com

Explore other countries

North America
Europe
Middle East
Pan Asia
South America
Africa
Australasia

© Eversheds Sutherland 2021. All rights reserved. Eversheds Sutherland is a global provider of legal and other services operating through various separate and distinct legal entities. 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. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.

Share this page