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Financial Sanctions: Iran (Nuclear Proliferation)

Monday, 18 November 2019

This news release is issued to correct the identifying information, in respect of one entry under the Iran (Nuclear Proliferation) regime. On 18 November 2019, a Corrigenda to Council Regulation (EU) 267/2012 was published in the Official Journal of the European Union.

Correction

Entity

(Deleted information is shown in square brackets. Additional information appears in italics)

MEHR BANK

a.k.a: (1) Mehr Finance and Credit Institute (2) Mehr Interest-Free Bank

Address: [204 Taleghani Ave, Tehran, Iran] No. 182, Shahid Tohidi St, 4th Golsetan, Pasdaran Ave, Tehran 1666943, Iran

Other Information: EU listing. Not UN. Controlled by Bonyad Taavon Sepah and the IRGC. Provides financial services to the IRGC.

Listed on: 24/05/2011 Last Updated: [24/05/2011] 18/11/2019 Group ID: 11582.

Financial institutions and other persons are required 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 FIU. 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 Iran and links to the UK’s Consolidated List of individual and entities subject to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.

Issued By

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