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Financial Sanctions: Libya

Tuesday, 31 October 2017

This news release is issued in respect of the financial sanctions measures relating to Libya.

Annex V to Regulation (EU) No 2016/44 has been amended with effect from 31 October 2017, following the publication of Commission Implementing Regulation (EU) No 2017/1974 (“the Amending Regulation”).

The Amending Regulation reflects the decision made on 20 October 2017 by the United Nations Security Council Committee to amend the listing for one entity on the UN Libya list.

AMENDMENT

Deleted information appears in square brackets [ ].  Additional information appears in italics.

Entity

Capricorn

UN and EU listing.  UN Ref LYe.004.  IMO: 8900878.  This designation is valid from 21 July 2017 to [21 October 2017] 18 January 2018 unless terminated earlier.  Flag State: Tanzania.  As of [16 July] 21 September 2017, the vessel was located [off shore Cyprus] in international waters off the United Arab Emirates.

Listed on:  25/07/2017              Last updated:  31/10/2017

Group ID:  13519

Financial institutions and other persons are requested to check whether they maintain any accounts or otherwise hold funds, financial assets, economic benefits and economic resources for the designated entity.  If so, they must freeze such accounts or 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 Sanctions Officer at the Customs and Excise Division of the Treasury.  Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated entity 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 Libya may be found on the Customs and Excise pages of the Isle of Man Government website.

Isle of Man Customs and Excise

Address:

PO Box 6

Custom House

North Quay

Douglas

Isle of Man

Post Code:

IM99 1AG

Telephone:

01624 648138

Fax:

01624 661725

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