Financial Sanctions: Chemical Weapons

Friday, 20 August 2021

Seven individuals have been added to the Chemical Weapons financial sanctions regime.

The Chemical Weapons (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/618) 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 the proliferation and use of chemical weapons. The Regulations, were applied in Island law by the Chemical Weapons Sanctions (Application) Regulations 2020 [SD 2020/0452].

On 20 August 2021 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under regulations made under the Sanctions Act.

The following entries have been added and are now subject to an asset freeze:

  • Alexey Alexandrov (Group ID: 14132)
  • Vladimir Panyaev (Group ID: 14133)
  • Ivan Vladimirovich Osipov (Group ID: 14134)
  • Vladimir Mikhailovich Bogdanov (Group ID: 14135)
  • Kirill Vasilyev (Group ID: 14136)
  • Stanislav Valentinovich Makshakov (Group ID: 14137)
  • Alexei Semenovich Sedov (Group ID: 14138)

 Details of the additions can be found in the Annex to this news release.

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 individuals. 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.

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

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