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I. Foreword
On December 23, 2020 the Luxembourg legislator has published the Law of 19 December 2020 implementing financial restrictive measures (“Law of 19 December 2020”). This Law repeals the Law of 27 October 2010 enhancing the anti-money laundering and counter terrorist financing legal framework.
With its entry into force on December 27, 2020, the Law of 19 December 2020 provides Luxembourg with a dedicated legislative framework for the implementation of financial restrictive measures adopted by the United Nations and the European Union. The Law complements Luxembourg’s legal arsenal to execute international sanctions.
The Law of 19 December 2020 is part of a three layer structure of sanction legislation...
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