This news release is issued to publicise the correction of 1 entry to the Yemen sanctions regime.
The Yemen (Sanctions) (EU Exit) (No.2) Regulations 2020 (S.I. 2020/1278) were made under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act) and provide for the freezing of funds and economic resources of certain persons, entities or bodies that threaten the peace, stability or security of Yemen. The Yemen (Sanctions) (EU Exit) (No.2) Regulations 2020 have effect in the Isle of Man by the Yemen Sanctions (Application) (No.2) Regulations 2020 [S.D. 2020/0539].
On 29 January 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.
Correction
Deleted information appears in [square brackets]. Additional information appears in italics.
The following entry has been corrected on the consolidated list and is still subject to an asset freeze:
- AL-NABI, Muhammad Fadl Abd Name (non-Latin script): دمحم لضف دبع يبنلا a.k.a: ABDULNABI, Muhammad, Fadl (non-Latin script: يبنلادبع لضف دمحم) Position: Commander of Houthi Naval Forces Other Information: (UK Sanctions List Ref): YEM0017. (UK Statement of Reasons): Muhammad Fadl Abd Al-NABI, in his role as Commander of Houthi Naval Forces is and has been involved in acts which threaten the peace, security and stability of Yemen, namely being responsible for and engaging in attacks against shipping in the Red Sea. Listed on: 25/01/2024 UK Sanctions List Date Designated: 25/01/2024 Last Updated: [25/01/2024] 29/01/2024 Group ID: 16349.
What you must do
Financial institutions and other persons are required to check whether you maintain any accounts or otherwise hold funds or economic resources for, or provide financial services to, designated individuals. If so, you must freeze such accounts or other funds and, unless licensed by the Treasury, not deal with those funds or economic resources, make those funds or economic resources available to a designated person, or make those funds or economic resources available for the benefit of a designated person. You must also report your findings to the FIU.
Failure to comply with financial and trade sanctions legislation or to attempting to circumvent its provisions is a criminal offence.
Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated person, you are not required to report these details again.
Further Information
Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.
Further details on the UN measures in respect of Yemen can be found on the relevant UN Sanctions Committee webpage.
Further details of the sanctions regime related to Yemen and links to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.
