Financial Sanctions: Syria

Thursday, 12 August 2021

This news release is issued to publicise the removal of one entry under the Syria sanctions regime.

The Syria (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/792) were made under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act) and provide for the freezing of funds and economic resources of certain persons, entities or bodies involved in repressing the civilian population in Syria or who is or has been involved in supporting or benefitting from the Syrian regime and who are or have been carrying on prohibited activities related to chemical weapons. The Syria (Sanctions) (EU Exit) Regulations 2019 have effect in the Isle of Man by the Syria Sanctions(Application) Regulations 2020 [SD 2020/0503].

On 12 August 2021 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under regulations made under the Sanctions Act .

The following entry has been removed and is no longer subject to an asset freeze.

  • Tarif AKHRAS (Group ID: 12060)

Full details can be found in the attached Annex to this news release.

Further details of the sanctions regime related to Syria and links 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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