EU adopts legal framework for Lebanon sanctions

EU adopts legal framework for Lebanon sanctions

BRUSSELS — The European Union has adopted a framework for targeted sanctions to address the current situation in Lebanon, the bloc said in a statement. According to the statement, the framework provides for the possibility of imposing sanctions against persons and entities who are responsible for undermining democracy or the rule of law in Lebanon through any of the following actions: — Obstructing or undermining the democratic political process by persistently hampering the formation of a government or by obstructing or seriously undermining the holding of elections — Obstructing or undermining the implementation of plans approved by Lebanese authorities and supported by relevant international actors, including the EU, to improve accountability and good governance in the public sector or the implementation of critical economic reforms, including in the banking and financial sectors and including the adoption of transparent and non-discriminatory legislation on the export of capital — Serious financial misconduct, concerning public funds, insofar as the acts concerned are covered by the United Nations Convention Against Corruption, and the unauthorized export of capital “Sanctions consist of a travel ban to the EU and an asset freeze for persons, and an asset freeze for entities. In addition, EU persons and entities