Since the early 2000s, states and international organisations have intensified their efforts against terrorism, in particular to combat the financing of terrorism. The use of so-called smart sanctions has been a core element of this large-scale strategy. One question that had seldom been raised until very recently was that relating to the application of such sanctions to entities that are supposedly involved in an armed conflict against a State. The aim of this chapter is to address this question from a general international law perspective. The EU practice and case law is used as a starting point in order to assess whether the application of restrictive measures conflicts with the rights and privileges conferred by international humanitarian law (IHL) to the parties to an armed conflict, and in particular to the non-State party to that conflict.