Financial Sanctions: Russia

Amendment

The following entry has been amended and is still subject to an asset freeze and trust services sanctions:

1. FRIDMAN, Mikhail Maratovic
   Name (non-Latin script): Михаил Маратович ФРИДМАН
   DOB: 21/04/1964. POB: Lviv, Ukraine a.k.a: FRIEDMAN, Mikhail, Maratovic Nationality: (1) Israel (2) Russia Address: (1) London, [UK] United Kingdom (2) Moscow, Russia. Position: (1) Former Member of the Board of Directors of Alfa Bank Russia (2) Former Chairman of the Supervisory Board of Alfa Group Consortium (3) [Founder of Alfa Group] Former Member of the Board of Directors of ABH Holdings S.A (4) Shareholder of ABH Holdings S.A Other Information: (UK Sanctions List Ref): RUS0664. Financial sanctions imposed in addition to an asset freeze: Trust services. Date trust services sanctions imposed: 21/03/2023. (UK Statement of Reasons): [MIKHAIL MARATOVICH FRIDMAN is a prominent Russian businessman and pro-Kremlin oligarch. FRIDMAN is involved in obtaining a benefit from or supporting the Government of Russia through his positions on the Supervisory Board of the Alfa Group, and the Board of Directors of ABH Holdings S.A., owner of Russia’s largest privately owned bank 'Alfa-Bank (Russia)’, which are carrying on business in a sector or sectors of strategic significance to the Government of Russia. FRIDMAN is closely associated with President Vladimir Putin, and is therefore associated with an individual who is involved in destabilising and threatening the territorial integrity, sovereignty and independence of Ukraine.] Mikhail Maratovich FRIDMAN is an “involved person” under the Russia (Sanctions) (EU Exit) Regulations 2019 (the "Russia Regulations") on the basis of the following grounds: (1) FRIDMAN is and/or has been involved in obtaining a benefit from or supporting the Government of Russia by working as a director or equivalent of Alfa Group, a person carrying on business in a sector of strategic significance to the Government of Russia, namely the Russian financial services sector; (2) FRIDMAN has been involved in obtaining a benefit from or supporting the Government of Russia by working as a director or equivalent of ABH Holdings S.A., an entity carrying on business in a sector of strategic significance to the Government of Russia, namely the Russian financial services sector; (3) FRIDMAN has been involved in obtaining a benefit from or supporting the Government of Russia by working as a director or equivalent of Alfa-Bank Russia, an entity carrying on business in a sector of strategic significance to the Government of Russia, namely the Russian financial services sector; (4) FRIDMAN has been involved in obtaining a benefit from or supporting the Government of Russia by working as a director or equivalent of Alfa-Bank Russia, an entity carrying on business of economic significance to the Government of Russia; (5) FRIDMAN is and/or has been involved in obtaining a benefit from or supporting the Government of Russia by carrying on business in a sector of strategic significance to the Government of Russia, namely the Russian financial services sector. (Gender):Male Listed on: 15/03/2022 UK Sanctions List Date Designated: 15/03/2022 Last Updated: [21/03/2023] 19/09/2023 Group ID: 14615.

Corrections

The following entries have been corrected to remove reference to transport sanctions. Transport sanctions still apply to these entries as provided on the UK Sanctions List. These entries remain subject to an asset freeze and trust services sanctions:

1. ILIEV, Zarakh Binsionovich
   Name (non-Latin script): ИЛИЕВ Зарах Бинсионович
   DOB: 08/09/1966. POB: Azerbaijan Other Information: (UK Sanctions List Ref):RUS1645. Financial sanctions imposed in addition to an asset freeze: Trust services. Date trust services sanctions imposed: 21/03/2023. [Transport sanction: where transport sanctions apply, a ship owned, controlled, chartered or operated by a designated person is prohibited from entering a port in the UK, may be given a movement or a port entry direction, can be detained, and will be refused permission to register on the UK Ship Register or have its existing registration terminated. Similarly, an aircraft owned, chartered or operated by a designated person is prohibited from overflying or landing in the UK, may be given a movement direction, can be detained or moved to a specified airport, and will be refused permission to register on the CAA Aircraft Register or have its existing registration terminated.] (UK Statement of Reasons):Zarakh Binsionovich ILIEV (hereafter ILIEV) is an involved person under the Russia (Sanctions) (EU Exit) Regulations 2019 on the basis of the following grounds: (1) ILIEV is associated with God NISANOV who is an involved person as defined in the regulations. (2) ILIEV is and has been involved in obtaining a benefit from or supporting the Government of Russia by owning or controlling directly or indirectly Kievskaya Ploshchad, which is carrying on business in sectors of strategic significance to the Government of Russia, namely the Russian construction and transport sectors. (Gender):Male Listed on: 26/09/2022 UK Sanctions List Date Designated: 26/09/2022 Last Updated: [21/03/2023] 19/09/2023 Group ID: 15589.
   
   
2. MAKAROV, Igor Viktorovich
   Name (non-Latin script): МАКАРОВ Игорь Викторович
   DOB: 05/04/1962. POB: Turkmenistan Other Information: (UK Sanctions List Ref):RUS1642. Financial sanctions imposed in addition to an asset freeze: Trust services. Date trust services sanctions imposed: 21/03/2023. [Transport sanction: where transport sanctions apply, a ship owned, controlled, chartered or operated by a designated person is prohibited from entering a port in the UK, may be given a movement or a port entry direction, can be detained, and will be refused permission to register on the UK Ship Register or have its existing registration terminated. Similarly, an aircraft owned, chartered or operated by a designated person is prohibited from overflying or landing in the UK, may be given a movement direction, can be detained or moved to a specified airport, and will be refused permission to register on the CAA Aircraft Register or have its existing registration terminated.] (UK Statement of Reasons): Igor Viktorovich MAKAROV (hereinafter MAKAROV) is an involved person under the Russia (Sanctions) (EU Exit) Regulations 2019 on the basis of the following grounds: (1) MAKAROV is and/or has been involved in obtaining a benefit from or supporting the Government of Russia by working as a director or equivalent of an entity, Reywood Holdings Limited (formerly ARETI International Group), which is or has been carrying on business in a sector of strategic significance to the Government of Russia, namely the Russian energy sector; (2) MAKAROV is and/or has been involved in obtaining a benefit from or supporting the Government of Russia by owning or controlling an entity, Reywood Holdings Limited (formerly ARETI International Group), which is and/or has been carrying on business in a sector of strategic significance to the Government of Russia, namely the Russian energy sector; (3) MAKAROV has been involved in obtaining a benefit from or supporting the Government of Russia by working as a director (whether executive or non-executive) or equivalent of an entity, JSC New Stream, which has been carrying on business in a sector of strategic significance to the Government of Russia, namely the Russian energy sector; (4) MAKAROV has been involved in obtaining a benefit from or supporting the Government of Russia by holding the right, directly or indirectly, to nominate at least one director (whether executive or non-executive) of an entity, Vikay Industrial Limited, which has been carrying on business in a sector of strategic significance to the Government of Russia, namely the Russian energy sector; (5) MAKAROV has been involved in obtaining a benefit from or supporting the Government of Russia by owning or controlling an entity, Selaco Limited (formerly Tradeluxo Limited), which is and/or has been carrying on business in a sector of strategic significance to the Government of Russia, the Russian energy sector. (Gender):Male Listed on: 26/09/2022 UK Sanctions List Date Designated: 26/09/2022 Last Updated: [17/08/2023] 19/09/2023 Group ID: 15586.
   
   
3. MAKHMUDOV, Iskander Kakhramonovich
   Name (non-Latin script): Искандер Кахрамонович МАХМУДОВ
   DOB: 05/12/1963. Position: President of Ural Mining and Metallurgical Company (UMMC) Other Information: (UK Sanctions List Ref):RUS1643. Financial sanctions imposed in addition to an asset freeze: Trust services. Date trust services sanctions imposed: 21/03/2023. [Transport sanction: where transport sanctions apply, a ship owned, controlled, chartered or operated by a designated person is prohibited from entering a port in the UK, may be given a movement or a port entry direction, can be detained, and will be refused permission to register on the UK Ship Register or have its existing registration terminated. Similarly, an aircraft owned, chartered or operated by a designated person is prohibited from overflying or landing in the UK, may be given a movement direction, can be detained or moved to a specified airport, and will be refused permission to register on the CAA Aircraft Register or have its existing registration terminated.] (UK Statement of Reasons): Iskander Kakhramonovich MAKHMUDOV (hereafter MAKHMUDOV) is an involved person under the Russia (Sanctions) (EU Exit) Regulations 2019 on the basis of the following grounds: (1) MAKHMUDOV is and has been involved in obtaining a benefit from or supporting the Government of Russia through his role as President of Ural Mining and Metallurgical Company (UMMC) by working as a manager or equivalent at an entity carrying on business in the Russian extractives sector, a sector of strategic significance to the Government of Russia. (2) MAKHMUDOV has been involved in obtaining a benefit from or supporting the Government of Russia through owning or controlling directly or indirectly Ural Mining and Metallurgical Company (UMMC), an entity carrying on business in the Russian extractives sector, a sector of strategic significance to the Government of Russia. (Gender):Male Listed on: 26/09/2022 UK Sanctions List Date Designated: 26/09/2022 Last Updated: [21/03/2023] 19/09/2023 Group ID: 15587.

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 Russia and links to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.