Isle of Man Customs and Excise News

Financial Sanctions: Russia General Licence

Wed, 25 May 2022 11:09:42 GMT

General licence - IOM/2022/RUS021

The Treasury has the power to issue General Licences for financial and trade sanctions regimes under a number of Regulations.

On 24 May 2022, the Treasury issued General licence - IOM/2022/RUS021 under regulation 64 of the Russia Sanctions (EU Exit) Regulations 2019, as they apply to the Isle of Man by the Russia Sanctions (Application) Regulations 2020 [SD 2020/0504] (“the Regulations”).

Any persons intending to use General licence - IOM/2022/RUS021 should consult the copy of the Licence for full details of the permissions and usage requirements which can be found attached to this release.

General Licence IOM/2022/RUS021 which allows payments and other permitted activities to take place in relation to the purchase of tickets from a DP or any Subsidiary for flights or rail journeys originating in, or within, Russia. The licence will expire on 23 May 2023.

For the purposes of General Licence IOM/2022/RUS021, an Isle of Man Person is an Isle of Man national or a body incorporated or constituted under the law of any part of the Isle of Man; the DPs are PJSC Aeroflot, JSC Rossiya Airlines, JSC Ural Airlines, Russian Railways; a subsidiary is any entity owned or controlled by any of the DPs that provides rail or air passenger services; and a Relevant Institution is:

a person who is licensed under the Financial Services Act 2008 (of Tynwald) to carry on a regulated activity within the meaning of section 3 of that Act;
a person who is authorised or registered under the Insurance Act 2008 (of Tynwald) or holds a permit under that Act;
a person who is registered under the Moneylenders Act 1991 (of Tynwald) to carry on the business of lending money;
a person who is acting as a trustee or an administrator of a retirement benefits scheme within the meaning of the Retirement Benefits Schemes Act 2008 (of Tynwald)

Under General Licence IOM/2022/RUS021:

An Isle of Man Person may purchase tickets from a DP or any Subsidiary for flights or rail journeys originating in, or within, Russia.
An Isle of Man Person, Relevant Institution or DP may carry out any activity reasonably necessary to effect the purchase of such tickets for flights or rail journeys.

General

The permissions in General Licence IOM/2022/RUS021 do not authorise any act which the person carrying out the act knows, or has reasonable grounds for suspecting, will result in funds or economic resources being made available in breach of The Russia Regulations, save as permitted under licences granted under The Russia Regulations.

The General Licence takes effect from the date of issue and expires on 23 May 2023.

Further details of the sanctions regime related to Russia may be found on the Customs and Excise pages of the Isle of Man Government website.

Financial Sanctions: Iran (Nuclear)

Tue, 24 May 2022 16:29:49 GMT

This news release is issued to publicise the correction of 1 entry under the Iran (Nuclear) Sanctions Regime.

The Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019 (S.I. 2019/461) 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 responsible for the proliferation or development of nuclear weapons in, or for use in, Iran. The Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019 have effect in the Isle of Man by the Iran Sanctions (Nuclear) (Application) Regulations 2020 [S.D. 2020/0477].

On 24 May 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.

The following entry has been corrected and is still subject to an asset freeze:

Parvis FATAH (Group ID: 11233)

Further details can be found in the Annex to this News Release.

Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.

Further details on the UN measures in respect of Iran can be found on the relevant UN Sanctions Committee webpage: https://www.un.org/securitycouncil

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, the designated individual. If so, you must freeze such accounts or other funds and, unless licensed by the Treasury, not deal with those funds or economic resources, and suspend the provision of any financial services. 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 details of the sanctions regime related to Iran (Nuclear) and links to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.

Financial Sanctions: Russia

Tue, 24 May 2022 16:27:06 GMT

This news release is issued to publicise the amendment of 63 entries to the Russian sanctions regime.

The Russia (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/855) 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 destabilising Ukraine or undermining or threatening the territorial integrity, sovereignty or independence of Ukraine, or obtaining a benefit from or supporting the Government of Russia. The Russia (Sanctions) (EU Exit) Regulations 2019 have effect in the Isle of Man by the Russia Sanctions (Application) Regulations 2020 [S.D. 2020/0504].

On 24 May 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.

63 entries have been amended and are still subject to an asset freeze.

Further details can be found in the Annex to this News Release.

Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.

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, and suspend the provision of any financial services. 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 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.

Financial Sanctions: Russia General Licence

Tue, 24 May 2022 16:17:24 GMT

General licence - IOM/2022/RUS020

The Treasury has the power to issue General Licences for financial and trade sanctions regimes under a number of Regulations.

On 18 May 2022, the Treasury issued General licence - IOM/2022/RUS020 under regulation 64 of the Russia Sanctions (EU Exit) Regulations 2019, as they apply to the Isle of Man by the Russia Sanctions (Application) Regulations 2020 [SD 2020/0504] (“the Regulations”).

Any persons intending to use General Licence IOM/2022/RUS020 should consult the copy of the Licence for full details of the permissions and usage requirements which can be found attached to this release.

General licence - IOM/2022/RUS020 payments and other permitted activities activities to take place in relation to winding down activities, basic needs and insolvency proceedings associated with the Amsterdam Trade Bank N.V or a subsidiary of the same. The licence will expire on 12 May 2023.

For the purposes of General Licence IOM/2022/RUS020 The Amsterdam Trade Bank N.V is a majority owned subsidiary of Alfa-Bank JSC which is a person designated under Regulation 5 of the Russia Regulations; a Subsidiary is any entity owned or controlled by the Amsterdam Trade Bank N.V; a Person is an individual, a body of persons corporate or unincorporate, any organisation or any association or combination of persons; and a Relevant Institution is:

a person who is licensed under the Financial Services Act 2008 (of Tynwald) to carry on a regulated activity within the meaning of section 3 of that Act;
a person who is authorised or registered under the Insurance Act 2008 (of Tynwald) or holds a permit under that Act;
a person who is registered under the Moneylenders Act 1991 (of Tynwald) to carry on the business of lending money;
a person who is acting as a trustee or an administrator of a retirement benefits scheme within the meaning of the Retirement Benefits Schemes Act 2008 (of Tynwald)

Under General Licence IOM/2022/RUS020:

The Amsterdam Trade Bank N.V may make payment for its basic needs including: payment of remuneration, allowances or pensions of employees; payment of tax; payments to suppliers of goods and services;
Subject to the conditions in the licence any Person (including, for the avoidance of doubt, the Amsterdam Trade Bank N.V and a Subsidiary) may make, receive or process any payments, or take any other action, in connection with any Insolvency Proceedings relating to the Amsterdam Trade Bank N.V; and
a Person (other than the Amsterdam Trade Bank N.V or a Subsidiary) may wind down any transactions to which it is a party, involving the Amsterdam Trade Bank N.V or a Subsidiary including the closing out of any positions and the restructuring of loans or other debt, and a Person, Relevant Institution, ATB or a Subsidiary can carry out any activity reasonably necessary to effect this.

General

The permissions in General Licence IOM/2022/RUS020 do not authorise any act which the person carrying out the act knows, or has reasonable grounds for suspecting, will result in funds or economic resources being made available in breach of The Russia Regulations, save as permitted under licences granted under The Russia Regulations.

The General Licence takes effect from the date of issue and expires on 12 May 2023.

Further details of the sanctions regime related to Russia may be found on the Customs and Excise pages of the Isle of Man Government website.

Financial Sanctions: Russia General Licence amendment

Mon, 23 May 2022 10:26:59 GMT

General licence - IOM/2022/RUS014

The Treasury has the power to issue General Licences for financial and trade sanctions regimes under a number of Regulations.

On 30 March 2022, the Treasury issued General licence - IOM/2022/RUS014 under regulation 64 of the Russia Sanctions (EU Exit) Regulations 2019, as they apply to the Isle of Man by the Russia Sanctions (Application) Regulations 2020 [SD 2020/0504] (“the Regulations”).

On 18 May 2022 General licence - IOM/2022/RUS014 was extended until 30 June 2022.

Any persons intending to use General Licence IOM/2022/RUS014 should consult the copy of the Licence for full details of the permissions and usage requirements which can be found attached to this release.

General Licence IOM/2022/RUS014 which allows for a wind down period until 30 June 2022 of positions involving the DP (Sovcomflot). A Subsidiary is any entity owned or controlled by the DP.

A Person is an individual, a body of persons corporate or unincorporate, any organisation or any association or combination of persons; and a Relevant Institution is:

a person who is licensed under the Financial Services Act 2008 (of Tynwald) to carry on a regulated activity within the meaning of section 3 of that Act;
a person who is authorised or registered under the Insurance Act 2008 (of Tynwald) or holds a permit under that Act;
a person who is registered under the Moneylenders Act 1991 (of Tynwald) to carry on the business of lending money;
a person who is acting as a trustee or an administrator of a retirement benefits scheme within the meaning of the Retirement Benefits Schemes Act 2008 (of Tynwald)

Under General Licence IOM/2022/RUS014 a Person (other than the DP or a Subsidiary) may wind down any transactions to which it is a party, involving the DP or a Subsidiary including the closing out of any positions, and a Person, Relevant Institution, or the DP or a Subsidiary can carry out any activity reasonably necessary to effect this.

General

The permissions in General Licence IOM/2022/RUS014 do not authorise any act which the person carrying out the act knows, or has reasonable grounds for suspecting, will result in funds or economic resources being made available in breach of The Russia Regulations, save as permitted under licences granted under The Russia Regulations.

The General Licence takes effect from the date of issue and expires on 30 June 2022.

Further details of the sanctions regime related to Russia may be found on the Customs and Excise pages of the Isle of Man Government website.

Financial Sanctions: Russia

Mon, 23 May 2022 10:07:49 GMT

This news release is issued to publicise the amendment of 4 entries to the Russian sanctions regime.

On 20 May 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.

The following entries have been amended and are still subject to an asset freeze:

Olga Petrovna GRYAZNOVA (Group ID: 15195)
Yuri Nikolayevich SHAMALOV (Group ID: 15393)
Lyudmila Aleksandrovna OCHERETNAYA (Group ID: 15394)
Marina Vladimirovna MAGDALINA (Group ID: 15136)

Further details can be found in the Annex to this News Release.

Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.

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, and suspend the provision of any financial services. 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 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.

Financial Sanctions: Global Anti-Corruption

Mon, 23 May 2022 10:04:53 GMT

This news release is issued to publicise a correction to 2 entries under the Global Anti-Corruption Sanctions Regime.

The Global Anti-Corruption Sanctions Regulations 2021 (S.I. 2021/488) 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 responsible for or involved in serious corruption. The Global Anti-Corruption Sanctions Regulations 2021 [SI 2021/488] have effect in the Isle of Man by the Global Anti-Corruption Sanctions (Isle of Man) Order 2021 [SI 2021/526].

On 20 May 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.

The following entries have been corrected and are still subject to an asset freeze:

Dmitry Vladislavovich KLYUEV (Group ID: 14091)
Jose Francisco LOPEZ CENTENO (Group ID: 14090)

Further details can be found in the Annex to this News Release.

Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.

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 details of the sanctions regime related to Global Anti-Corruption and links to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.

Financial Sanctions: Iraq

Fri, 20 May 2022 16:09:09 GMT

This news release is issued to publicise the removal of 3 entries under the Iraq Regime.

The Iraq (Sanctions) (EU Exit) Regulations 2020 (S.I. 2020/707) 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 former Government of Iraq and its state bodies, corporations or agencies. The Iraq (Sanctions) (EU Exit) Regulations 2020 have effect in the Isle of Man by the Iraq Sanctions (Application) Regulations 2020 [S.D. 2020/0500].

On 20 May 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.

The following entries have been removed on the consolidated list and are no longer subject to an asset freeze:

Khalaf M M AL-DULAYMI (Group ID: 8286)
MIDCO FINANCIAL, S.A. (Group ID: 8284)
MONTANA MANAGEMENT, INC. (Group ID: 8285)

Further details can be found in the annex to this news release.

Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.

Further details on the UN measures in respect of Iraq can be found on the relevant UN Sanctions Committee webpage.

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

Financial Sanctions: Syria

Thu, 19 May 2022 15:55:09 GMT

This news release is issued to publicise the correction of 6 entries in the Syria sanctions regime.

The Syria (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/792) 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 repressing the civilian population in Syria or who is or has been involved in supporting or benefitting from the Syrian regime and who are or have been carrying on prohibited activities related to chemical weapons. The Syria (Sanctions) (EU Exit) Regulations 2019 have effect in the Isle of Man by the Syria Sanctions (Application) Regulations 2020 [S.D. 2020/0503].

On 19 May 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.

The following entries have been corrected and are still subject to an asset freeze:

Samir HASSAN (Group ID: 12053)
Iyad MAKHLOUF (Group ID: 11934)
Tawfiq YOUNES (Group ID: 12025)
Saqr RUSTOM (Group ID: 13818)
SOURUH COMPANY (Group ID: 12066)
SYRIAN LEBANESE COMMERCIAL BANK (Group ID: 12487)

Further details can be found in the annex to this notice.

Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.

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 details of sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.

Financial Sanctions: Russia

Thu, 19 May 2022 15:53:10 GMT

This news release is issued to publicise the addition of 3 entries and correction of 2 entries to the Russian sanctions regime.

On 19 May 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.

The following entries have been added to the consolidated list and are now subject to

an asset freeze.

JSC ROSSIYA AIRLINES (Group ID: 15396)
JSC URAL AIRLINES (Group ID: 15397)
PJSC AEROFLOT (Group ID: 15395)

Erroneous information included in the following entries on non-HTML/PDF versions of

the Consolidated List has been removed. No material changes have been made to the

Consolidated List in HTML format for the following entries:

GARANTEX EUROPE OU (Group ID: 15329)
KAMAZ (Group ID: 15332)

Further details can be found in the Annex to this News Release.

Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.

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, and suspend the provision of any financial services. 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 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.

Customs and Excise Counter Opening Hours

Thu, 19 May 2022 14:43:06 GMT

We would like to inform you that effective Monday 30 May 2022, new public counter opening hours for Customs and Excise will be:

Monday to Friday

10am to 2pm

Customers are encouraged to make appointments before visiting and can also be arranged outside of counter opening hours on request.

Staff are available to assist you with your enquires by phone and email from 8.30am to 4.30pm Monday to Friday.

Contact details:

Telephone: +44 1624 648100

Email: Customs@gov.im

Further details may be found on the Customs and Excise pages of the Isle of Man Government website

Financial Sanctions: Syria

Fri, 13 May 2022 15:13:28 GMT

This news release is issued to publicise the addition of 1 entry, correction of 1 entry, removal of 1 entry and amendment of 108 entries in the Syria sanctions regime.

On 13 May 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.

The following entry has been added to the consolidated list and is subject to an asset freeze:

Mohammad AL-SHAAR (Group ID: 15382)

This replaces the following entry regarding the same individual:

Mohammad Ibrahim AL-SHAAR (Group ID: 12421)

The following entry has been removed from the consolidated list and is no longer subject to an asset freeze:

Yousef ISMAIL (Group ID: 12471)

108 entries have been amended on the consolidated list and remain subject to an asset freeze.

Further details can be found in the annex to this notice.

Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.

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 details of sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.

Financial Sanctions: Russia

Fri, 13 May 2022 15:08:42 GMT

This news release is issued to publicise the addition of 12 entries, amendment of 8 entries and correction of 2 entries to the Russian sanctions regime.

On 13 May 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.

12 entries have been added to the consolidated list and are now subject to an asset freeze.

8 entries have been amended and are still subject to an asset freeze.

The following entries have been corrected and are still subject to an asset freeze:

Maiya Nikolaevna BOLOTOVA (Group ID: 14765)
Dmitrii Vasilyevich PIANOV (Group ID: 14815)

Further details can be found in the Annex to this News Release.

Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.

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, and suspend the provision of any financial services. 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 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.

Sanctions: Afghanistan

Thu, 12 May 2022 10:05:48 GMT

The Treasury advises that the Afghanistan Sanctions (Application) Regulations 2022 [SD 2022/0033] came into operation on 28 February 2022, which apply the provisions of the following United Kingdom statutory instrument relating to Afghanistan financial and trade sanctions to the Island

The Afghanistan (Sanctions) (EU Exit) (Amendment) Regulations 2022

The Afghanistan (Sanctions) (EU Exit) Regulations 2020 (of UK Parliament) (the “Afghanistan Regulations”) were applied to the Island, and currently have effect in the Island, by the Afghanistan Sanctions (Application) Regulations 2020 [SD 2020/0493]. The Afghanistan Regulations were amended in the United Kingdom in compliance with their UN obligations. The Isle of Man has adopted these measures to ensure that sanctions against Afghanistan in the Island are aligned with the United Kingdom.

In December 2021, the United Nations Security Council issued resolution 2615, which declared that the provision of humanitarian assistance and other activities that support basic human needs in Afghanistan should be an exception to the asset freeze rules. The Security Council therefore permit the processing and payment of funds, and provision of goods and services necessary to ensure the delivery of humanitarian assistance.

The Afghanistan Regulations allow for anyone on the Island who has previously frozen funds because they have identified those funds as belonging to a person or entity on the Afghanistan sanctions list, may be able to release those funds where they consider that it is necessary for the delivery of humanitarian assistance or the support of basic human needs in Afghanistan.

Failure to comply with financial and trade sanctions legislation or to attempting to circumvent its provisions is a criminal offence.

Further details of the sanctions regime related to Afghanistan and links to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.

Financial Sanctions: Russia General Licence - RUS019

Fri, 13 May 2022 13:23:20 GMT

General licence - IOM/2022/RUS019

The Treasury has the power to issue General Licences for financial and trade sanctions regimes under a number of Regulations.

On 11 May 2022, the Treasury issued General Licence IOM/2022/RUS019 under regulation 64 of the Russia Sanctions (EU Exit) Regulations 2019, as they apply to the Isle of Man by the Russia Sanctions (Application) Regulations 2020 [SD 2020/0504] ('the Regulations').

Any persons intending to use General Licence IOM/2022/RUS019 should consult the copy of the Licence for full details of the permissions and usage requirements which can be found attached to this release.

General Licence IOM/2022/RUS019 which allows for the continuation of business operations of the North American Subsidiaries specified below. The licence will expire on 2 September 2022.

For the purposes of General Licence IOM/2022/RUS019 the North American Subsidiaries are the following subsidiaries of Evraz plc:

Evraz North America plc
Evraz Inc. NA and
Evraz Inc. NA – Canada

A Person is an individual, a body of persons corporate or unincorporate, any organisation or any association or combination of persons; and a Relevant Institution is:

a person who is licensed under the Financial Services Act 2008 (of Tynwald) to carry on a regulated activity within the meaning of section 3 of that Act
a person who is authorised or registered under the Insurance Act 2008 (of Tynwald) or holds a permit under that Act
a person who is registered under the Moneylenders Act 1991 (of Tynwald) to carry on the business of lending money
a person who is acting as a trustee or an administrator of a retirement benefits scheme within the meaning of the Retirement Benefits Schemes Act 2008 (of Tynwald)

Under General Licence IOM/2022/RUS019 a Person may continue business operations involving the North American Subsidiaries including, but not limited to: payments to or from the North American Subsidiaries under any obligations or contracts; payments to or from any third party under any obligations or contracts; and receipt of payments made by the North American Subsidiaries for audit services. Evraz North America plc is also permitted to pay for the audit services referred to in the previous sentence.

General

The permissions in General Licence IOM/2022/RUS019 do not authorise any act which the person carrying out the act knows, or has reasonable grounds for suspecting, will result in funds or economic resources being made available in breach of The Russia Regulations, save as permitted under licences granted under The Russia Regulations.

The General Licence takes effect from the date of issue and expires on 2 September 2022.

Further details of the sanctions regime related to Russia may be found on the Customs and Excise pages of the Isle of Man Government website.

Financial Sanctions: Russia General Licence - RUS018

Fri, 13 May 2022 13:24:20 GMT

General licence - IOM/2022/RUS018

The Treasury has the power to issue General Licences for financial and trade sanctions regimes under a number of Regulations.

On 11 May 2022, the Treasury issued General Licence IOM/2022/RUS018 under regulation 21 of the Global Anti-Corruption Sanctions Regulations 2021, as they extend to the Island by the Global Anti-Corruption Sanctions (Isle of Man) Order 2021 [SI 2021/526] ('the GAC Regulations') and regulation 64 of the Russia Sanctions (EU Exit) Regulations 2019, as they apply to the Isle of Man by the Russia Sanctions (Application) Regulations 2020 [SD 2020/0504] ('the Russia Regulations').

The financial restrictions imposed by the GAC Regulations and Russia Regulations are not applicable to Crown Relevant Organisations, as defined in General Licence IOM/2022/RUS018, and therefore the acts of these bodies of are not required to be authorised by the licence.

Under General Licence IOM/2022/RUS018, subject to the conditions set out in that licence, an officer of a Non-Crown Relevant Organisation is permitted to carry out their duties including through making use of powers available to them under IOM legislation for Asset Recovery Purposes. This includes, but is not limited to, powers made available under the Proceeds of Crime Act 2008, Anti-terrorism, Crime Act 2003 and the Proceeds of Crime (External requests and orders) Order 2009.

Under General Licence IOM/2022/RUS018, subject to the conditions set out in that licence, persons may carry out any action necessary to comply with or otherwise give effect to any of the following:

An IOM court order obtained by or on behalf of a Relevant Organisation for Asset Recovery Purposes
A forfeiture order given by an officer of a Relevant Organisation or
The types of external order referred to at paragraphs 4.2 (c) – (d) of General Licence IOM/2022/RUS018

The General Licence IOM/2022/RUS018, also permits, subject to the conditions set out in that licence, persons to carry out any action necessary to comply with or otherwise give effect to any of the following for Asset Recovery Purposes:

A negotiated settlement to which a Relevant Organisation is a party or
An approved deferred prosecution agreement to which a Crown Relevant Organisation is a party

The permissions in General Licence IOM/2022/RUS018 do not authorise any act which the person carrying out the act knows, or has reasonable grounds for suspecting, will result in funds or economic resources being dealt with or made available in breach of the GAC Regulations or Russia Regulations, save as permitted under licences granted under The GAC Regulations and Russia Regulations.

The General Licence takes effect from the date of issue and is of indefinite duration.

It may be varied, revoked, or suspended by Treasury at any time.

Prior authorisation requirement

Any persons intending to conduct activity permitted under General Licence IOM/2022/RUS018 on behalf of an organisation not explicitly named in the licence must request authorisation from Treasury in writing prior to undertaking any such activity. Such request (which can be sent to customs@gov.im) must provide Treasury with details of the activity that the organisation requesting authorisation intends to undertake pursuant to that authorisation, along with valid contact details. The submission of such a request does not constitute confirmation by Treasury that the authorisation sought will be granted.

Reporting requirement

Any dealing with a designated person’s assets conducted under General Licence IOM/2022/RUS018 must be reported to the FIU within 28 days in line with paragraph 5 of General Licence IOM/2022/RUS018, with details and supporting evidence.

Record-keeping requirements

Persons must keep accurate, complete and readable records, on paper or electronically, of any activity purporting to have been permitted under this licence for a minimum of 6 years. In line with paragraph 6 of General Licence IOM/2022/RUS018.

Further details of the sanctions regime related to Russia may be found on the Customs and Excise pages of the Isle of Man Government website.

Financial Sanctions: Russia

Tue, 10 May 2022 09:49:29 GMT

This news release is issued to publicise the amendment of 88 entries to the Russian sanctions regime.

On 09 May 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.

88 entries have been amended on the consolidated list and still subject to an asset freeze.

Further details can be found in the Annex to this News Release.

Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.

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, and suspend the provision of any financial services. 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 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.

Financial Sanctions: Russia

Fri, 06 May 2022 08:54:26 GMT

This news release is issued to publicise the addition of 1 entry, an amendment of 1 entry and corrections of 8 entries to the Russian sanctions regime.

On 05 May 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.

The following entry has been added to the consolidated list and is now subject to an asset freeze:

EVRAZ PLC (Group ID: 15380)

The following entry has been amended and remains subject to an asset freeze:

Alexander Vladimirovich KOROTKIY (Group ID: 15161)

8 entries have been corrected on the consolidated list and still remain subject to an asset freeze.

Further details can be found in the Annex to this News Release.

Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.

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, and suspend the provision of any financial services. 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 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.

Financial Sanctions: Russia

Wed, 04 May 2022 14:28:16 GMT

This news release is issued to publicise the addition of 63 entries and amendment of 2 entries to the Russian sanctions regime.

On 04 May 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.

63 entries have been added to the consolidated list and are now subject to an asset freeze.

The following entries have been amended and are still subject to an asset freeze:

ROSSIYA SEGODNYA (Group ID: 15064)
TV-NOVOSTI (Group ID: 15063)

Further details can be found in the Annex to this News Release.

Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.

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, and suspend the provision of any financial services. 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 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.

Financial Sanctions: Russia General Licence amendment

Wed, 04 May 2022 09:26:43 GMT

General licence - IOM/2021/RUS001

The Treasury has the power to issue General Licences for financial and trade sanctions regimes under a number of Regulations.

On 30 September 2021, the Treasury issued General licence - IOM/2021/RUS001 under regulation 64 of the Russia Sanctions (EU Exit) Regulations 2019, as they apply to the Isle of Man by the Russia Sanctions (Application) Regulations 2020 [SD 2020/0504] (“the Regulations”).

The licence was amended to extend the expiry date to 23 February 2023.

Any persons intending to use General Licence IOM/2021/RUS001 should consult the copy of the Licence for full details of the permissions and usage requirements.

Under General Licence IOM/2021/RUS001 -

a Person may make payment(s) out of non-frozen funds to the Crimean Sea Ports for services provided at the ports of Kerch Fishery Port, Yalta Commercial Port and Evpatoria Commercial Port, and for services provided by Gosgidrografiya and by Port-Terminal branches of the Crimean Sea Ports;
a Person may be reimbursed out of non-frozen funds for payments it makes in accordance with the above;
relevant institutions may process payments made in accordance with the above.

The permissions in General Licence IOM/2021/RUS001 do not authorise any act which the person carrying out the act knows, or has reasonable grounds for suspecting, will result in funds or economic resources being made available in breach of the Regulations, save as permitted under licences granted under the Regulations.

General Licence IOM/2021/RUS001 takes effect from the date of issue and may be varied, revoked, or suspended by the Treasury at any time.

Reporting requirement

Any activity conducted under General Licence IOM/2021/RUS001 must be reported to the Treasury within 14 days, with details and supporting evidence.

Record-keeping requirements

Persons must keep accurate, complete and readable records, on paper or electronically, of any activity purporting to have been permitted under this licence for a minimum of 6 years.

Further details of the sanctions regime related to Russia may be found on the Customs and Excise pages of the Isle of Man Government website.