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 destabilising Ukraine or undermining or threatening the territorial integrity, sovereignty or independence of Ukraine, or obtaining a benefit from or supporting the Government of Russia. The Russia (Sanctions) (EU Exit) Regulations 2019 have effect in the Isle of Man by the Russia Sanctions (Application) Regulations 2020 [S.D. 2020/0504].
On 24 February 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.
The following entries have been amended to the Russia sanctions regime and are still subject to an asset freeze:
- BORTNIKOV, Denis Alexandrovich (Group ID: 14190)
- FRADKOV, Petr Mikhailovich (Group ID: 14191)
- GEORGIEVA, Elena Alexandrovna (Group ID: 14194)
- SHAMALOV, Kirill Nikolaevich (Group ID: 14192)
- SLYUSAR, Yury Borisovich (Group ID: 14193)
- JSC RESEARCH AND PRODUCTION CORPORATION URALVAGONZAVOD (Group ID: 14188)
- PUBLIC JOINT STOCK COMPANY “UNITED AIRCRAFT CORPORATION” (Group ID: 14186)
- PUBLIC JOINT STOCK COMPANY "UNITED SHIPBUILDING CORPORATION" (Group ID: 14189)
- STATE CORPORATION FOR THE PROMOTION OF THE DEVELOPMENT, MANUFACTURE AND EXPORT OF HIGH TECHNOLOGY PRODUCTS "ROSTEC" (Group ID: 14185)
- TACTICAL MISSILES CORPORATION JOINT STOCK COMPANY (Group ID: 14187)
- VTB BANK (PUBLIC JOINT-STOCK COMPANY) (Group ID: 14195)
Full details can be found here.
Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.
Financial institutions and other persons are required to check whether you maintain any accounts or otherwise hold funds or economic resources for, or provide financial services to, designated individuals. If so, you must freeze such accounts or other funds and, unless licensed by the Treasury, not deal with those funds or economic resources, and suspend the provision of any financial services. You must also report your findings to the FIU.
Failure to comply with financial and trade sanctions legislation or to attempting to circumvent its provisions is a criminal offence.
Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated person, you are not required to report these details again.
Further details of the sanctions regime related to Russia and links to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.