This news release is issued in respect of measures taken against certain persons, entities and bodies in view of the situation in Ukraine.
Annex I to Council Regulation (EU) No 269/2014 has been amended with effect from 15 September 2018, following the publication of Council Implementing Regulation (EU) No 2018/1230.
The entries for 19 individuals and 13 entities have been amended. Details of the amendments can be found in the attached Annex.
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 individuals and entities. 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 FIU.
Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated individuals and entities 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 Ukraine 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.
