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German Sanction #1
Financial Restrictions on Germania Act (EC-FRGA)Preamble:
In response to recent actions by Germania that challenge the principles of stability, security, and cooperative governance within Europe, the European Council enacts this legislation to implement stringent financial restrictions on Germania. This Act imposes comprehensive financial sanctions to limit Germania’s access to EC financial systems and protect EC economic integrity.
Section 1: Title
This legislation shall be known as the European Council Financial Restrictions on Germania Act (EC-FRGA).
Section 2: Purpose and Scope
The EC-FRGA aims to:
Sever Germania’s access to EC financial markets and services.
Prevent the flow of EC funds to support Germania’s government and its controlled entities.
Apply strict financial oversight to limit Germania’s influence on EC financial institutions.
Section 3: Aggressive Financial Sanctions
Asset Freezes
Indefinite Freeze on All Germanian Assets
All financial assets owned or controlled, directly or indirectly, by Germania’s government, senior officials, state agencies, corporate entities, or any individuals operating under its authority, are immediately frozen within all EC jurisdictions.
This freeze includes deposits, securities, bonds, real estate holdings, and any other tangible or intangible assets within EC territories.
Total Prohibition on Transactions with Frozen Assets
EC-based financial institutions are strictly prohibited from conducting any transactions, fund transfers, or investments involving the frozen assets unless explicitly authorized by the EC Financial Oversight Committee.
Financial institutions must report any identified Germanian assets and their associated holdings within 24 hours to the EC Financial Oversight Committee for auditing and monitoring.
Banking and Financial Service Restrictions
Complete Ban on Financial Services for Germanian Entities
All EC-based financial institutions, including but not limited to banks, investment firms, insurers, and credit agencies, are hereby prohibited from providing any financial services, loans, credit facilities, or investment services to Germania’s government, associated state entities, or any major Germanian corporations.
Any existing service agreements, outstanding loans, or lines of credit with Germanian entities must be terminated within 30 days of the enactment of this legislation.
Authorization Requirement for Financial Transactions Involving Germania
Any financial transactions, transfers, or engagements involving Germanian entities require explicit pre-authorization from the EC Financial Oversight Committee. Unauthorized transactions will be penalized and subject to seizure.
Financial institutions violating these restrictions are subject to immediate penalties, including potential asset seizures, sanctions on management, and suspension of EC operating licenses.
Enhanced Monitoring and Reporting Requirements
All financial institutions within EC jurisdiction must implement enhanced monitoring systems for transactions involving Germanian individuals, entities, or associated third parties.
Monthly compliance reports must be submitted to the EC Financial Oversight Committee, detailing all interactions, attempted or successful, with Germanian entities or assets.
Section 4: Enforcement and Compliance
Establishment of the EC Sanctions Enforcement Office
The EC hereby establishes the EC Sanctions Enforcement Office (EC-SEO) to ensure strict compliance with the EC-FRGA and to oversee enforcement actions, compliance audits, and penalty assessments.
Penalties for Non-Compliance
Any financial institution or individual within the EC found in violation of this Act shall be subject to immediate fines, asset seizures, and possible suspension or revocation of business licenses within EC jurisdictions.
Regular Review and Amendments
This Act shall undergo biannual reviews by the EC Sanctions Enforcement Office, which is authorized to recommend any amendments to strengthen or adjust the financial restrictions as deemed necessary.
Effective Date:
The European Council Financial Restrictions on Germania Act (EC-FRGA) takes effect immediately upon its adoption by the European Council. All EC member states and financial institutions operating within EC jurisdictions are required to enforce this legislation in full.