This news release is issued in respect of the restrictive measures directed against Venezuela.
Annex IV to Council Regulation (EU) No 2017/2063 has been amended with effect from 10 July 2019, following the publication of Council Implementing Regulation (EU) 2019/1169.
Details of the amendments can be found in the attached Annex.
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 individual. 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 also report their findings to the FIU. Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated individual they are not required to report these details again.
Failure to comply with financial sanctions legislation or to seek to circumvent its provisions is a criminal offence.
Further details of the sanctions regime related to Venezuela and links to the UK’s Consolidated List of individuals and entities subject to these and other financial sanctions may be found on the Customs and Excise pages of the Isle of Man Government website.