This news release is issued in respect of the restrictive measures directed against the Democratic People's Republic of Korea.
Annex IV and Annex V to Council Regulation (EC) No 329/2007 have been amended with effect from 9 October 2014, following the publication of Commission Implementing Regulation (EU) No 1059/2014.
One person has been added to the sanctions list and one individual has been removed. In addition, the identifying information for 12 existing entries has been amended.
Details of all the changes can be found in the attached Annex.
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 individuals or entities. 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 individuals or entities they are not required to report these details again.
Further details of the sanctions regime related to the Democratic People's Republic of Korea and links to the Consolidated List of individuals and entities subject to these and other financial sanctions may be found on the Customs and Excise pages of the Isle of Man Government website.
