This news release is issued to publicise the addition of 1 entry to the Bosnia and Herzegovina sanctions regime.
The Bosnia and Herzegovina (Sanctions) (EU Exit) Regulations 2020 (S.I. 2020/608) were made under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act) and provide for the imposition of financial sanctions, namely the freezing of funds and economic resources of persons involved in undermining the sovereignty, territorial integrity, international personality, or constitutional order of Bosnia & Herzegovina; seriously threatening the peace, stability or security of Bosnia & Herzegovina; obstructing the implementation of the General Framework Agreement for Peace; and any action, policy or activity which undermines the General Framework Agreement for Peace. The Bosnia and Herzegovina (Sanctions) (EU Exit) Regulations 2020 have effect in the Isle of Man by the Bosnia and Herzegovina Sanctions (Application) Regulations 2020 [S.D. 2020/0453].
On 15 January 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.
Addition
The following entry has been added to the Consolidated List and is now subject to an asset freeze:
Entity
- MANIA D.O.O.
Address: Vojvode Pere Krece 21, Banja Luka, Bosnia and Herzegovina, 78000. Other Information: (UK Sanctions List Ref):BIH0004. (UK Statement of Reasons):Mania is an involved person within the meaning of the Bosnia and Herzegovina (Sanctions) (EU Exit) Regulations 2020 in that, by promoting the celebration of Republika Srpska (RS) Day on 9 January 2024, it is or has been involved in undermining or threatening the constitutional order of Bosnia and Herzegovina (BiH). (Phone number):00 387 66 581 925 (Website):https://mania.marketing/sr (Email address):kontakt@mania.marketing (Type of entity):Marketing agency (Business Reg No):44038924500007 Listed on: 15/01/2024 UK Sanctions List Date Designated: 15/01/2024 Last Updated: 15/01/2024 Group ID: 16338
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 of the sanctions regime related to Bosnia and Herzegovina and links to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.
