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Financial Sanctions: Russia

Tuesday, 16 May 2023

This news release is issued to publicise the amendment 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 16 May 2023 the Foreign, Commonwealth and Development Office updated the UK Sanctions List. This list provides details of those designated under sanctions legislation. 

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:

Individuals

  1. Roman Nikolaevich LEPA (Group ID: 15212)
    Name (non-Latin script): ЛЕПА, Роман Николаевич
    DOB: 03/06/1974. a.k.a: LEPA, Roman, Nikolayevich Address: 97 Artema St, Donetsk, Ukraine, 283001. Other Information: (UK Sanctions List Ref):RUS1260. Financial sanctions imposed in addition to an asset freeze: Trust services. Date trust services sanctions imposed: 21/03/2023. (UK Statement of Reasons): [Designated for the purposes of an asset freeze and a travel ban under the Russia (Sanctions) (EU Exit) Regulations 2019. The designation is made as a designation by name under the urgent procedure. The relevant provision by reference to which the Minister considers that condition B is met is the European Union’s Council Decision 2014/145/CFSP (as amended) concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine, and Council Regulation (EU) No 269/2014. The purposes of this provision correspond or are similar to the purposes of the UK’s Russia (Sanctions) (EU Exit) Regulations 2019, which have as their purposes to encourage Russia to cease actions destabilising Ukraine or undermining or threatening the territorial integrity, sovereignty or independence of Ukraine. The Minister considers that it is in the public interest to designate (condition C).] As a member of the ‘Donetsk People’s Council’, the ‘legislature’ of the illegal separatist ‘Donetsk People’s Republic’, they have actively provided support for policies and/or actions which destabilise Ukraine and/or undermine or threaten the territorial integrity, sovereignty or independence of Ukraine. (Gender):Male Listed on: 13/04/2022 UK Sanctions List Date Designated: 13/04/2022 Last Updated: [21/03/2023] 16/05/2023 Group ID: 15212.

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.

Issued By

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