This news release is issued in respect of the restrictive measures directed against the Democratic People's Republic of Korea.
Annexes IV and VI to Council Regulation (EC) No 329/2007 have been amended with effect from 5 March 2016, following the publication of Commission Implementing Regulation (EU) No 2016/315.
Fifteen individuals and two entities have been added to the consolidated list and are now subject to an asset freeze. The identifying information for two individuals and nine existing entities has also been updated. Details of the additions and changes can be found in the Annex to this news release.
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 and 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 persons and 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.
