This news release is issued to correct 20 listings under the Iran (Nuclear Proliferation) sanctions regime. These amendments bring the UK’s Consolidated List into line with Annex IX to Council Regulation No 267/2012.
The 20 entries have been amended and remain subject to an asset freeze.
Details of the amendments can be found in the attached Annex.
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 and entities. 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 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 Iran and links to the UK’s Consolidated List of individual and entities subject to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.