The Isle of Man Treasury issued a notice reflecting an update to the UK sanctions list under the Russia sanctions regime as it applies in the Isle of Man, removing two entities from the consolidated list and amending one existing entry. ROSBANK PJSC and ACTIVE DENIZCILIK VE GEMI ISLETMECILIGI ANONIM SIRKETI have been delisted and are no longer subject to an asset freeze or trust services sanctions. The entry for TINKOFF BANK has been amended to TBANK (T‑Bank) with updated identifying details, while remaining subject to the asset freeze, trust services sanctions and the prohibition on correspondent banking relationships. The notice reiterates that where a person or entity is suspected to match the UK sanctions list and funds or economic resources are held or dealt with, assets must be frozen immediately, no dealings may occur without an exemption or licence, and frozen assets and suspected breaches or blocked transactions must be reported to the Financial Intelligence Unit.
The Treasury (Isle of Man) 2025-03-07
Isle of Man Treasury publicises Russia sanctions list changes delisting Rosbank and Active Denizcilik and amending TBank entry
The Isle of Man Treasury updated the UK sanctions list under the Russia sanctions regime, removing ROSBANK PJSC and ACTIVE DENIZCILIK VE GEMI ISLETMECILIGI ANONIM SIRKETI, and amending TINKOFF BANK to TBANK (T‑Bank) with updated details. TBANK remains subject to asset freeze, trust services sanctions, and a prohibition on correspondent banking relationships. The notice emphasizes freezing assets immediately if suspected to match the UK sanctions list and reporting breaches or blocked transactions to the Financial Intelligence Unit.