The Isle of Man Treasury issued a notice publicising changes to two entries under the Iran (Nuclear) sanctions regime, following an update to the UK Sanctions List by the Foreign, Commonwealth and Development Office. The amended entries remain designated and subject to an asset freeze. The amendments relate to two entities, Post Bank of Iran and Sina Bank, under the Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019 as implemented in the Isle of Man via the Sanctions (Implementation of UK Sanctions) Regulations 2024. The notice reiterates obligations for relevant institutions to freeze assets immediately where they suspect a match, avoid making funds or economic resources available absent an exemption or licence, and report frozen assets and suspected breaches (including blocked attempted transactions) to the Financial Intelligence Unit, noting that ownership and control checks form part of screening against the list.
The Treasury (Isle of Man) 2025-10-08
The Isle of Man Treasury publicises amendments to two Iran nuclear sanctions designations on the UK Sanctions List
The Isle of Man Treasury announced updates to two entries under the Iran (Nuclear) sanctions regime, aligning with changes to the UK Sanctions List. Post Bank of Iran and Sina Bank remain designated and subject to an asset freeze under the Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019. Institutions must freeze assets, avoid unauthorized transactions, and report to the Financial Intelligence Unit.