The Treasury advises that the Export Control (North Korea and Ivory Coast Sanctions and Syria Amendment) Order 2013 (Application) Order 2013 comes into operation with effect from 7 January 2014.
This will apply in Island law Export Control (North Korea and Ivory Coast Sanctions and Syria Amendment) Order 2013, as well as making necessary amendments of other orders, to update Isle of Man export control legislation in respect of North Korea and Ivory Coast.
The applied Order provides for the enforcement of Council Regulations 329/2007/EC and 174/2005/EC, replacing and consolidating in one instrument the penalties and offences relating to the enforcement of trade sanctions against the two countries.
There remain comprehensive restrictions on trade with North Korea, as well as other sanctions measures imposed by both the United Nations and the European Union, which include the freezing of assets.
Whilst trade restrictions against the Ivory Coast have been significantly reduced since July 2012, there remain in place certain measures, including a prohibition on the supply, transfer or export of equipment which might be used for internal repression.
One should note that many of the prohibitions and restrictions involving North Korea, the Ivory Coast and Syria include not just export embargoes, the freezing of assets and prohibition on making available economic resources, but also “trade controls” involving the trafficking or brokering in certain goods by someone in the island, or by an Island person outside the Island.
For more information contact Customs and Excise:
P.O. Box 6
Isle of Man
+44 1624 648138