Financial Sanctions: Central African Republic

Monday, 10 August 2020

This news release is issued in respect of the financial sanctions in place against the Central African Republic.

Annex I to Council Regulation (EU) No 224/2014 has been amended with effect from 10 August 2020 following the publication of Council Implementing Regulation (EU) No 2020/1171.  This reflects the decision made on 28 July 2020 by the United Nations Security Council (UNSC) Committee established pursuant to Resolution 2127(2013) to amend the identifying information of six existing entries.

Details of the amendments can be found in the Annex to this news release.

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. 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 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 the Central African Republic 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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