Algeria Clarifies Trade Blockade Against Spain, Exempts Pre-June 9 Transactions

25 July 2022 – byPrince · 1 min read

The Professional Association of Banks and Financial Institutions (ABEF) of Algeria specified in a note published on Saturday that the suspension of foreign trade operations of goods and services to and from Spain does not affect goods domiciled or issued before June 9, the date of entry into force of the measure.

In a note made public on Saturday, the Professional Association of Banks and Financial Institutions (ABEF) of Algeria, which had ordered the freezing of "bank deductions related to foreign trade operations of products and services destined for and originating from Spain" as of June 9, explained that this measure "does not target import or export operations of goods and services from Spain or of Spanish origin domiciled before June 9".

"These exempted goods must comply with legal requirements and current regulations," the note added.

The crisis between Algeria and Spain was born after Pedro Sanchez decided in March to support the Moroccan autonomy plan for the Sahara. It worsened on June 8, with the suspension by Algeria of the treaty of friendship, good neighborliness and cooperation with Spain, thus blocking trade between the two countries, with the exception of Algerian gas exports.

Category: Spain

Keywords:

Spain Cooperation Algeria Imports Exports