As a number of new statutory documents are due to be approved at or laid before the November sitting of Tynwald, the Treasury advises of the following new or modified sanctions measures affecting the Island –
Burundi
EU sanctions in respect of Burundi set out in Council Regulation (EU) No 2015/1755 have effect in the Island as from 26 October 2015. The European Union (Burundi Sanctions) Order 2015 [SD 2015/0349] and Burundi Sanctions Regulations 2015 [SD 2015/0350] implement the Regulation in the Island. A news release on 2 November 2015 advised of the imposition of financial sanctions in respect of 4 individuals, and a new Sanctions Notice 44 is available on the Customs and Excise website containing further information.
Syria
The European Union (Syria Sanctions) (Amendment) Order 2015 [SD 2015/0353] applies Council Regulation (EU) No 2015/1828 in the Island. This Regulation amended the criteria for the listing of those persons, entities and bodies subject to financial sanctions under Council Regulation (EU) No 36/2012. The European Union (Syria Sanctions) (Amendment) (No. 2) Regulations 2015 [SD 2015/0354] made consequential amendment to the European Union (Syria Sanctions) Regulations 2013.
Ukraine/Russia
The European Union (Russia Sanctions) (Amendment) Order 2015 [SD 2015/0351] applies Council Regulation (EU) No 2015/1797 in the Island. This Regulation amended Council Regulation (EU) No 833/2014 in respect of changes necessary relating to certain specific substances for use in satellite launchers, or for the fuelling of satellites, lifting the prohibitions on the sale, supply, transfer, import and export (and related technical or financial assistance) in certain circumstances. Consequential amendment of the Russia Sanctions (No. 3) Regulations 2014 were made by a separate statutory document.
Iran
The Treasury would also like to remind businesses that whilst recent EU Regulations and Council Decisions have made provision for extensive amendment of the Regulation and Council Decision governing EU sanctions against Iran in the light of the Joint Comprehensive Plan of Action (JCPOA) agreed to by Iran the changes made (that would represent a considerable relaxation of the restrictions imposed) do not have immediate effect. They are to be implemented from a date in the future, and are dependent on continuing Iranian compliance with the JCPOA. It should also be noted that an arms embargo remains in place, and is to remain in place.
Therefore, whilst some slight adjustments have been made to the sanctions regime affecting a relatively narrow area, and that the exemptions from some of the prohibitions and restrictions that have been in place since January 2014 continue, the rest of the sanctions measures, including the requirement for the notification or authorisation of transfers of funds to or from Iran or Iranian persons, entities and organisations, remain in effect.
More information can be found in Sanctions Notice 24 on the Customs and Excise website.
For more information on any of the above developments contact Customs and Excise
