This news release is issued to publicise the removal of one entry and correction of two entries on the UK sanctions list.
On 7 July 2026 the Foreign, Commonwealth and Development Office updated the UK Sanctions List.
Further information can be found in the Annex to this Notice.
What you must do in relation to corrections
If, through your sanctions compliance programme, you identify a possible match to a person or entity included in the Sanctions Lists, and you hold or otherwise deal with funds or economic resources of that person:
- You must immediately freeze any assets you hold or otherwise deal with belonging to that person (assets includes funds and economic resources, owned directly or indirectly by that person)
- You must review the information you hold for that person against the Sanctions Lists to establish whether you have a true match or a 'false positive' (see the Financial Sanctions General Guidance)
- Where a true match is confirmed, do not deal with those assets or make them available to, or for the benefit of the designated person unless:
- You have a legal exemption
- You have a licence
- You must report the frozen assets to the FIU
If you have a suspicion or knowledge that there has been a breach of sanctions law, or any attempted transactions that you have blocked, report these 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.
What you must do in relation to removals
You must check whether you hold any frozen assets owned by this individual (whether directly or indirectly). These assets must now be unfrozen for financial sanctions purposes under Manx law.
However, you may have other regulatory reasons to keep the assets frozen (for example, under other country’s sanctions obligations). You should document these decisions and maintain a record of the action you have taken.
You are not required to report any action to unfreeze assets.
Note: determining if a customer is on the UN or UK Sanctions List includes whether any corporate entity is owned or controlled, directly or indirectly, by a person on those lists.
Further Information
Contact details for enquiries
If you require any further information or guidance, please contact the Sanctions Team on:
Telephone: +44 1624 648109
Email: sanctions@gov.im
Please note: We are unable to provide legal advice. You may need to seek independent legal advice.
