This news release is issued to publicise the correction of 1 entry under the Iran Sanctions Regime.
The Iran (Sanctions) Regulations 2023 have effect in the Isle of Man by the Iran (Sanctions) (Isle of Man) Order 2023 [S.I. 2023/1376]. These Regulations impose financial, trade, transport and immigration sanctions to encourage the Government of Iran to comply with international human rights law and respect for human rights and to deter Iran from conducting hostile activity against the United Kingdom and other countries.
On 31 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 amended on the Consolidated List and are still subject to an asset freeze:
Individuals
- KOCAK, Ali
Name (non-Latin script): Ali Koçak a.k.a: (1) KOCHAK, Ali (2) KUCHAK, Ali Nationality: Turkey Other Information: (UK Sanctions List Ref): IRN0184. (UK Statement of Reasons): Ali KOÇAK is an involved person within the meaning of the Iran (Sanctions) Regulations 2023 on the basis of the following ground: KOÇAK is or has been involved in hostile activity by an armed group backed by the Government of Iran, in that he has been responsible for threatening, planning or conducting attacks, including assassinations and threats to life, against persons in countries other than Iran. (Gender): Male Listed on: 29/01/2024 UK Sanctions List Date Designated: 29/01/2024 Last Updated: [29/01/2024] 31/01/2024 Group ID: 16356
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 Iran and links to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.
