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Financial Sanctions: Libya

Monday, 12 February 2018

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 10 February 2018, following the publication of Commission Implementing Regulation (EU) No 2018/200.

The Amending Regulation reflects the decision made on 2 February 2018 by the United Nations Security Council Committee to amend the listing of one vessel.

AMENDMENT

Deleted information is in square brackets. Additions appear in italics

Entity 

[CAPRICORN] NADINE 

Other Information: UN and EU listing. UN Ref LYe.004. IMO: 8900878. This designation is valid from 21 July 2017 to 17 April 2018 unless terminated earlier. Flag State: Unknown. Palau. As of 21 September 2017 19 January 2018 the vessel was located near the coast of Muscat, Oman outide its territorial waters. the vessel was located in international waters off the United Arab Emirates.

Listed on: 25/07/2017 Last Updated: [26/01/2018] 12/02/2018 Group ID: 13519. 

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.

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