Financial Sanctions: Syria

This news release is issued in respect of the restrictive measures directed against certain persons and entities in view of the situation in Syria.

The Council of the European Union has amended Annex II to Council Regulation (EU) No. 36/2012 ("Regulation 36/2012") with effect from 17 August 2012. Annex II to Regulation 36/2012 lists the persons, entities or bodies subject to the asset freeze.

One entity has been added to Annex II and is therefore subject to the asset freeze imposed by Regulation 36/2012.

ADDITION

Entity

DREX TECHNOLOGIES HOLDING S.A.

Address: 17 rue Beaumont, Luxembourg, L-1219 (Previous address)

Other Information: Registered in Luxembourg under number B77616. Beneficial owner is Rami Makhlouf.

Group ID: 12736

Financial institutions and other persons are requested to check whether they maintain any accounts or otherwise hold funds or economic resources for, or provide financial services to, the designated entity. If so, they must freeze such accounts or other funds and, unless licensed by the Treasury, refrain from dealing with said funds or economic resources, and suspend the provision of any financial services. They must report their findings to the Sanctions Officer at the Customs and Excise Division of the Treasury.

Further details of the sanctions regime related to Syria and links to the Consolidated List of individuals and entities subject to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.