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Financial Sanctions: Iran (Human Rights)

Monday, 16 April 2018

This news release is issued in respect of the asset-freezing measures directed against certain persons responsible for serious human rights violations in Iran.

Following the publication of Council Implementing Regulation (EU) No 2018/565, the Council of the European Union has amended Annex I to Council Regulation (EU) No 359/2011 with effect from 13 April 2018.

Amendments

The identifying information for 29 entries has been amended and is annexed.

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 persons and entity. 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 FIU.  Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated individuals 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 Iran 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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