This news release is issued to publicise the amendment of 1 entry and removal of 1 entry to the Russian 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 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 22 March 2023 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation.
REMOVAL
The following duplicate entry has been removed from the consolidated list. The original entry (Sergei Borisovich KOROLYOV, Group ID: 15295) remains on the consolidated list and the individual is still subject to an asset freeze:
- Sergey Borisovich KOROLEV (Group ID: 15760)
Name (non-Latin script): Сергей Борисович Королев
DOB: 25/07/1962. POB: Bishkek, Kyrgzstan Nationality: Russia Position: Member of ROSATOM's Supervisory Board Other Information: (UK Sanctions List Ref):RUS1721. Financial sanctions imposed in addition to an asset freeze: Trust services. Date trust services sanctions imposed: 21/03/2023. (UK Statement of Reasons):Sergey Borisovich KOROLEV is an “involved person” under the Russia (Sanctions) (EU Exit) Regulations 2019 because he has been, and is, involved in obtaining a benefit from or supporting the Government of Russia by working as a director or equivalent of a person (other than an individual) which is carrying on business in a sector of strategic significance to the Government of Russia, namely ROSATOM which is carrying on business in the energy and defence sector. (Gender):Male Listed on: 24/02/2023 UK Sanctions List Date Designated: 23/02/2023 Last Updated: [21/03/2023] 22/03/2023 Group ID: 15760.
AMENDMENT
Deleted information appears in [square brackets]. Additional information appears in italics.
The following entry has been amended and is still subject to an asset freeze:
- Alexey Viktorovich KUZMICHEV (Group ID: 14966)
Name (non-Latin script): Алексей Викторович КУЗЬМИЧЁВ
DOB: 15/10/1962. POB: Kirov, Russia Position: Member of the Supervisory Board of Alfa Group Consortium Other Information: (UK Sanctions List Ref):RUS1029. Financial sanctions imposed in addition to an asset freeze: Trust services. Date trust services sanctions imposed: 21/03/2023. (UK Statement of Reasons): [Alexey Viktorovich KUZMICHEV (hereafter KUZMICHEV) was involved in obtaining a benefit from or supporting the Government of Russia through his positions as the co-founder and a member of the Supervisory Board of the Russian-based investment consortium the Alfa Group, a consortium of businesses which includes ABH Holdings SA, which is the holding company for Alfa-Bank Russia (Russia’s largest privately owned bank) and Alfa-Bank Ukraine. Alfa Bank is active in the financial services sector - a sector of strategic significance to the Government of Russia, meaning that KUZMICHEV has derived a benefit from or supported the Government of Russia. KUZMICHEV has also been involved in destabilising Ukraine through Alfa Bank Russia doing business in the unrecognized republics in the east of Ukraine.] Alexey Viktorovich KUZMICHEV is or has been involved in obtaining a benefit from or supporting the Government of Russia by working as a director, or equivalent, of entities carrying on business in a sector of strategic significance to the Government of Russia, namely the Russian financial services sector, through his positions on the Supervisory Board of Alfa Group and the Board of Directors and Board of Administration of A1 Investment Holding S.A.. KUZMICHEV is also an involved person because he is associated with Mikhail FRIDMAN (RUS0664), German KHAN (RUS0666), and Petr AVEN (RUS0665), who are each involved persons under The Russia (Sanctions) (EU Exit) Regulations 2019. Listed on: 15/03/2022 UK Sanctions List Date Designated: 15/03/2022 Last Updated: [21/03/2023] 22/03/2023 Group ID: 14966.
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 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.
