This news release publicises an amendment to one existing entry under the Russia sanctions regime.
The Russia (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/855) 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 Russia’s illegal annexation of Crimea and Sevastopol and continued destabilisation of Ukraine. The Russia (Sanctions) (EU Exit) Regulations 2019 have effect in the Isle of Man by the Russia Sanctions (Application) Regulations 2020 [SD 2020/0504].
On 1 July 2021, the Foreign Commonwealth and Development Office updated the UK Sanctions List.
The following entry has been amended and is still subject to an asset freeze.
- Andrei Valeryevich Kartapolov (Group ID: 13215)
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. 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.