ARTICLE
10 May 2016

Department Of Merchant Shipping Issues Circular On Trade Restrictions

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Elias Neocleous & Co LLC

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Elias Neocleous & Co LLC is the largest law firm in Cyprus and a leading firm in the South-East Mediterranean region, with a network of offices across Cyprus (Limassol, Nicosia, Paphos), Belgium (Brussels), Czech Republic (Prague), Romania (Budapest) and Ukraine (Kiev). A dynamic team of lawyers and legal experts deliver strategic legal solutions to clients operating in key industries across Europe, Asia, the Middle East, India, USA, South America, and China. The firm is renowned for its expertise and jurisdictional knowledge across a broad spectrum of practice areas, spanning all major transactional and market disciplines, while also managing the largest and most challenging cross-border assignments. It is a premier practice of choice for leading Cypriot banks and financial institutions, preeminent foreign commercial and development banks, multinational corporations, global technology firms, international law firms, private equity funds, credit agencies, and asset managers.
Following the United Nations' and European Union's adoption of resolutions imposing restrictive measures against Central African Republic, Ivory Coast, North Korea, Somalia, South Sudan and Yemen...
Cyprus Transport

Following the United Nations' and European Union's adoption of resolutions imposing restrictive measures against Central African Republic, Ivory Coast, North Korea, Somalia, South Sudan and Yemen and the issuance of prohibition orders under Article 3(3) of the Cyprus Ships (Prohibition of Transportation) Laws 1966-1971,1 the Department of Merchant Shipping has revised its guidance to owners, operators and managers of Cyprus-flagged ships regarding restrictions on trade with the countries concerned.

Cyprus ships may not be used to procure or transport to or from the countries concerned:

  • weapons, ammunition or similar goods;
  • armed mercenary personnel; or
  • equipment which might be used for internal repression.

There are exemptions for equipment intended solely for humanitarian or protective use, and for use by UN or similar personnel.

In the case of North Korea, the scope of prohibited dealings is much wider, extending from precious metals, jewels and luxury goods to goods that might facilitate the country's nuclear or missile programmes. Vessels bound to or from North Korea are subject to inspection and must provide additional pre-arrival or pre-departure information if visiting a port in Cyprus.

Footnotes

1 Law 26 of 1966, as amended.

Previously published by International Law Office

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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