The Isle of Man Treasury issued a sanctions update noting that one entry on the UK Sanctions List under the Russia regime has been amended. The entry for Yuri Olegovich Denisov remains in force and continues to be subject to an asset freeze and trust services sanctions. The notice reiterates that the Russia (Sanctions) (EU Exit) Regulations 2019 apply in the Isle of Man via the Sanctions (Implementation of UK Sanctions) Regulations 2024 made under the Sanctions Act 2024, and summarises core compliance expectations for relevant institutions, including immediately freezing assets of designated persons, avoiding making funds or economic resources available absent an exemption or licence, and reporting frozen assets and suspected breaches to the Financial Intelligence Unit. It also highlights the need to manage false positives and to consider direct or indirect ownership or control when screening corporate customers.
The Treasury (Isle of Man) 2025-09-23
Isle of Man Treasury publicises amended Russia sanctions listing for Yuri Olegovich Denisov
The Isle of Man Treasury updated its sanctions list, amending one entry under the UK Sanctions List for the Russia regime, with Yuri Olegovich Denisov's entry still subject to an asset freeze and trust services sanctions. The update reiterates compliance expectations under the Russia (Sanctions) (EU Exit) Regulations 2019, including asset freezing, avoiding unauthorized fund access, and reporting to the Financial Intelligence Unit. Institutions are advised to manage false positives and assess ownership or control in customer screenings.