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Financial Sanctions - Syria and Zimbabwe

Monday, 13 May 2013

On 9 May 2013 the European Union (Syria Sanctions) (Application) (Amendment) Order 2013 and the European Union (Zimbabwe Sanctions) (Suspension) Order 2013 came into operation.

The effect of these Orders, and the associated regulations made at the same time, is as follows -

Syria

Council Regulation (EU) No. 325/2013 is given effect in the Island and this permits the addition to any frozen accounts of payments due under judicial, administrative or arbitral decisions rendered in a Member State or the Isle of Man, or enforceable in a Member State or the Island. It also provides that the prohibition on making funds and economic resources available to designated persons does not apply to acts or transactions carried out in respect of Syrian Arab Airlines for the sole purpose of evacuating EU citizens or their family members from Syria. Finally, the new Regulation also provides for the release of funds or resources, under licence, if the Treasury is satisfied that this is necessary to ensure human safety or for environmental protection.

Zimbabwe

Council Regulation (EU) No. 298/2013 is given effect in the Island. This suspends the travel ban and asset freeze imposed on the majority of individuals and entities formerly designated under the sanctions regime. Consequently, the sanctions against 81 individuals and 8 entities listed in the Annex to Council Regulation 298/2013 are suspended until 20 February 2014.

Names and details of those individuals and entities still subject to the sanctions measures may be found here.

For more information contact the Sanctions Officer.

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