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Financial Sanctions: Libya

Thursday, 9 November 2017

This news release is issued in respect of the financial sanctions measures relating to Libya.

Annex V to Regulation (EU) No 2016/44 has been amended with effect from 9 November  2017, following the publication of Commission Implementing Regulation (EU) No 2017/2006.

The Amending Regulation reflects the decisions made on 31 October 2017 by the United Nations Security Council Committee to amend the listing of vessel Lynn S.


Deleted information is in square brackets. Additions appear in italics


Lynn S

Other Information: UN and EU listing. UN Ref LYe.005. IMO: 8706349. This designation is valid from 2 August to [2 November 2017] 29 January 2018 unless terminated earlier.

Flag State: Saint Vincent and the Grenadines.

As of [26 July 2017] 6 October 2017 the vessel was located in the territorial waters of Lebanon when it set sail heading West.[international waters approx. 50 nautical miles southeast of Cyprus].

Listed on: 03/08/2017 Last Updated: [11/08/2017] 09/11/2017 Group ID: 13520

Financial institutions and other persons are required to check whether they maintain any accounts or otherwise hold funds, financial assets, economic benefits and economic resources for the designated entity.  If so, they must freeze such accounts or 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 entity 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 Libya and links to the UK’s 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


Isle of Man Customs and Excise


PO Box 6

Custom House

North Quay


Isle of Man

Post Code:

IM99 1AG


01624 648136


01624 661725




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