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Financial Sanctions: Belarus

Wednesday, 14 November 2012

This news release is issued in respect of the asset-freezing measures taken against Belarus.

On 7 November 2012 the EU published Council Regulation (EU) No. 1014/2012 and Council Implementing Regulation (EU) No. 1017/2012, amending Council Regulation (EC) No. 765/2006 ('the 2006 Regulation'). The 2006 Regulation introduced restrictive measures against Belarus.

The Council has amended the 2006 Regulation to extend the restrictive measures against Belarus until 31 October 2013, consolidate Annexes I, IA and IB into single a single Annex, Annex I and update the identifying information relating to a number of existing entries, with effect from 7 November 2012.

Details of the amendments can be found here.

Financial institutions and other persons are required to check whether they maintain any accounts or otherwise hold any funds, financial assets, economic benefits and economic resources for the persons named and if so, they should freeze the accounts or funds and report their findings to the Sanctions Officer:

Customs and Excise Division

Telephone:+44 1624 648100

Email:Send Email

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 Belarus and links to the Consolidated List of individuals and entities subject to these and other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.

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