This news release is issued to publicise the addition of 7 entries in the Syria sanctions regime.
The Syria (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/792) 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 involved in repressing the civilian population in Syria or who is or has been involved in supporting or benefitting from the Syrian regime and who are or have been carrying on prohibited activities related to chemical weapons. The Syria (Sanctions) (EU Exit) Regulations 2019 have effect in the Isle of Man by the Syria Sanctions (Application) Regulations 2020 [S.D. 2020/0503].
On 29 June 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.
The following entries have been added to the consolidated list and are now subject to an asset freeze.
- Andrei Mikhailovich BOGATOV (Group ID: 15431)
- Alexander Yuryevich CHAIKO (Group ID: 15430)
- Sergey Fedorovich RUDSKOY (Group ID: 15433)
- Andrey Nikolaevich TROSHEV (Group ID: 15432)
- EVRO POLIS LLC (Group ID: 15434)
- MERCURY LLC (Group ID: 15435)
- VELADA LLC (Group ID: 15436)
Further details can be found in the annex to this notice.
Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.
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 details of sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.
