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Financial Sanctions: Ukraine(Sovereignty and Territorial Integrity)

Thursday, 19 March 2020

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 14 March  2020 following the publication of Council Implementing Regulation (EU) No 2020/398.

The following individuals have been removed from the UK’s Consolidated List and are no longer subject to the asset freeze imposed by the 2014 Regulation.

Evgeni Viktorovich BUSHMIN (Group ID: 12916)

Valery Kirillovich MEDVEDEV (Group ID: 12934)

165 entries have been amended and remain subject to an asset freeze. Details of 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 persons 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. 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. They must also report their findings to the FIU. 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.

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