This news release is issued in respect of the restrictive measures directed against certain persons and entities in view of the situation in Syria.
Annex II to Council Regulation (EC) No 36/2012 has been amended with effect from 21 May 2019, following the publication of Commission Implementing Regulation (EU) No 2019/798.
Nine entries have been removed from the UK’s Consolidated List and are no longer subject to an asset freeze.
Twenty nine entries have been amended and are still subject to an asset freeze.
Details of the delistings and 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 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. 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 Syria and links to the UK’s Consolidated List of Individuals and entities subject to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website