Financial Sanctions - Afghanistan

The European Commission has amended Annex I to Council Regulation (EC) No. 753/2011 ("the 2011 Regulation") with effect from 4 December 2012.

Annex I of the 2011 Regulation lists the persons, groups and entities covered by the freezing of funds and economic resources under that Regulation. The amendments reflect the decision made on 13 and 15 August, 19 and 25 October and 2 November 2012 by the United Nations Sanctions Committee established pursuant to resolution 1988 (2011) to add one entity and individual to the UN list, and to amend the identifying information of a number of existing entries.

Details of the additional entries and amendments to existing entries can be found here.

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 persons. 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 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 person they are not required to report these details again.

Further details of the sanctions regime related to Afghanistan and links to the 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.