This news release is issued to publicise a new sanctions regime introduced in respect of Nicaragua.
On 14 October 2019, the Council of the European Union adopted Council Regulation (EU) 2019/1716 (the EU Regulation) providing for the freezing of funds and economics resources of certain persons, entities or bodies responsible for serious human rights violations or the repression of civil society in Nicaragua, as well as persons associated with them.
The European Union (Nicaragua Sanctions) Order 2019 applies the provisions of the EU Regulation, as modified by the Schedule to the Order, as part of the law of the Island.
The Nicaragua Sanctions Regulations 2019 puts in place enforcement provisions for breaches of the financial sanctions contained in the EU Regulation.
To date no individuals or entities have been included in Annex I of the EU Regulation.
Further details of the sanctions regime related to Nicaragua can be found in Sanctions Notice 51. 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.