New asset freeze guidance from the Norwegian Ministry of Foreign Affairs
Earlier today, the Norwegian Ministry of Foreign Affairs (the "MFA") published an updated guidance on asset freeze measures. The guidance was originally published in 2018, and today's update adds additional guidance and reflects recent developments in legislation.
The asset freeze guidance instructs natural and legal persons on how to adhere to asset freezing measures implemented in Norwegian legislation. Although the asset freeze guidance is largely aimed at financial institutions, it is also relevant for other industry operators and includes practical guidance and FAQs aimed at solving typical interpretation questions which can arise.
The asset freeze guidance has been prepared in collaboration with the Norwegian Financial Supervisory Authority and other relevant authorities. In addition, Finans Norge, as a particularly affected industry organisation, and Norwegian humanitarian actors have given input and contributions to the guide. The new guide replaces the guide from 2018.
A press release on today's updates and the updated guidance can be found on the MFA's website.