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Financial Sanctions: Republic of Guinea-Bissau

Friday, 10 March 2017

This news release is issued in respect of the restrictive measures directed against Republic of Guinea-Bissau.

Annex I to Council Regulation (EU) No 377/2012 has been amended with effect from 9 March 2017, following the publication of Commission Implementing Regulation (EU) No 2017/403.

The amendment reflects the decision made on 22 February 2017 by the United Nations Security Council to update the identifying information of 11 existing entries.

Details of the amendment 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  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 individual they are not required to report these details again.

Failure to comply with financial sanctions legislation or to seek to circumvent its provisions is a criminal offence

Further details of the sanctions regime related to Guinea-Bissau and links to the Consolidated List of individuals and entities subject to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website

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