This news release is issued to publicise the amendment of 1 entry under the Russia sanctions regime.
The Russia (Sanctions) (EU Exit) Regulations 2019 have effect in the Isle of Man by the Sanctions (Implementation of UK Sanctions) Regulations 2024 ('the Regulations'), which are made under the Sanctions Act 2024. This regime imposes financial, trade, aircraft, shipping and immigration sanctions for the purposes of encouraging Russia to cease actions which destabilise Ukraine, or undermine or threaten the territorial integrity, sovereignty or independence of Ukraine.
Individuals, entities and ships who are designated under this regime are included on the UK sanctions list.
Types of sanctions applicable under this regime:
- Asset freeze
- Other financial and investment restrictions
- Trade
- Immigration
- Aircraft
- Ships
On 24 March 2025 the Foreign, Commonwealth and Development Office updated the UK sanctions list. This list provides details of those designated under sanctions legislation.
Amendment
The following entry has been amended on the Consolidated List and is still subject to an asset freeze or trust service sanctions.
Deleted information appears in [square brackets]. Additional information appears in italics.
Individual
- KHUDAVERDYAN, Tigran Oganesovich
Name (non-Latin script): ХУДАВЕРДЯН Тигран [Органесович] Оганесович
DOB: 28/12/1981. POB: Yerevan, Armenia Nationality: Armenia Position: Former Executive Director & Deputy CEO at Yandex NV Other Information: (UK Sanctions List Ref): RUS1034. Financial sanctions imposed in addition to an asset freeze: Trust services. Date trust services sanctions imposed: 21/03/2023. (UK Statement of Reasons): Tigran Oganesovich Khudaverdyan was the Executive Director & Deputy CEO at Yandex, a leading Russian technology company, until March 2022. Khudaverdyan therefore has been involved in obtaining a benefit from or supporting the Government of Russia, as director of an entity carrying on business in a sector of strategic significance to the Government of Russia – namely, the Russian information, communications and digital technologies sector. (Gender): Male Listed on: 15/03/2022 UK Sanctions List Date Designated: 15/03/2022 Last Updated: [21/03/2023] 24/03/2025 Group ID: 14971
What you must do
If you suspect a person or entity is a match to a person or entity included in the UK Sanctions List, and you hold or otherwise deal with funds or economic resources of that person:
- You must freeze the assets immediately
- You must review the information you hold for that person against the UK Sanctions List to ensure you do not have a false positive identification
- Do not deal with those assets or make them available to, or for the benefit of the designated person unless:
- You have a legal exemption
- You have a licence
- You must report the frozen assets to the FIU.
If you have a suspicion or knowledge that there has been a breach of sanctions law, or any attempted transactions that you have blocked, report your suspicions 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
Further information on the sanctions regime related to Russia and other sanctions related guidance can be found on the Sanctions and Export Control website on the Sanctions Guidance page.
Contact details for enquiries
If you require any further information or guidance, please contact the Sanctions Team on:
Telephone: +44 1624 648109
Email: sanctions@gov.im
Please note: We are unable to provide legal advice. You may need to seek independent legal advice.
