This news release is issued in respect of financial sanctions imposed against the Democratic Republic of the Congo.
Annex I to Council Regulation (EC) No 1183/2005 has been amended with effect from 12 December 2020, following the publication of Council Implementing Regulation (EU) 2020/2021.
There are twelve amendments to the DRC regime including the removal of one individual. Full details of the amendments can be found in the Annex to this news release.
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 individuals. 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 individual 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 Democratic Republic of the Congo and links to the Consolidated List of individuals and entities subject to these and other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.