This news release is issued to publicise the removal of 1 entry under the Libya Sanctions Regime.
The Libya (Sanctions) (EU Exit) Regulations 2020 (S.I. 2020/1665) 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 the commission of a serious human rights violation or abuse in Libya; the commission of a serious breach of international humanitarian law in Libya; activities undermining Libya’s transition to a democratic, peaceful and independent country or any other activity that threatens the peace, stability and security of Libya. The Libya (Sanctions) (EU Exit) Regulations 2020 have effect in the Isle of Man by the Libya Sanctions (Application) Regulations 2020 [S.D. 2020/0584].
On 24 February 2023 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.
Removal
Deleted information appears in [square brackets]. Additional information appears in italics.
The following entry has been removed from the consolidated list and is no longer subject to an asset freeze.
- Baghdadi AL-MAHMOUDI (Group ID: 11699)
DOB: --/--/1945. POB: Zaouia, Libya Nationality: Libya Position: Former Prime Minister in Colonel Qadhafi’s Government Other Information: (UK Sanctions List Ref):LIB0019 (UK Statement of Reasons):Prime Minister of Colonel Qadhafi’s Government. Associated with the former regime of Muammar Qadhafi. (Gender):Male Listed on: 22/03/2011 UK Sanctions List Date Designated: 31/12/2020 Last Updated: [31/12/2020] 24/02/2023 Group ID: 11699.
What you must do
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, make those funds or economic resources available to a designated person, or make those funds or economic resources available for the benefit of a designated person. 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 information
Consequently the Foreign, Commonwealth and Development Office updated the Consolidated List. This list provides details of those designated under sanctions legislation.
Further details on the UN measures in respect of Libya can be found on the relevant UN Sanctions Committee webpage.
Further details of the sanctions regime related to Libya and links to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.
