Financial Sanctions: Republic of Guinea-Bissau

Friday, 19 February 2021

This news release is issued to publicise an amendment to one existing entry under the Republic of Guinea-Bissau sanctions regime.

The Republic of Guinea-Bissau (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/554) 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 threatening the peace, security or stability of the Republic of Guinea-Bissau. The Republic of Guinea-Bissau (Sanctions) (EU Exit) Regulations 2019 have effect in the Isle of Man by the Republic of Guinea-Bissau (Application) Regulations 2020 [SD 2020/0447].

On 18 February 2021 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. The list provdes details of those designated under the Sanctions Act.

The following entry has been amended and is still subject to an asset freeze:

  • Mamadu TURE (Group ID: 12665)

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 individual. 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

Further details of the sanctions regime related to the Republic of Guinea-Bissau 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.

Issued By