The Isle of Man Treasury issued a notice publicising an amendment to one entry under the Russia sanctions regime as it applies in the Isle of Man, reflecting an update to the UK sanctions list made by the UK Foreign, Commonwealth and Development Office. The amended entry remains subject to an asset freeze and trust services sanctions. The update concerns Tigran Oganesovich Khudaverdyan (UK Sanctions List Ref: RUS1034), an Armenian national and former Executive Director and Deputy Chief Executive Officer at Yandex NV, who has been designated since 15 March 2022, with trust services sanctions imposed from 21 March 2023. The Treasury reiterated that anyone holding or dealing with funds or economic resources of a designated person must freeze assets immediately, avoid making assets available absent an exemption or licence, and report frozen assets and suspected breaches or blocked transactions to the Financial Intelligence Unit, noting that previously reported frozen asset details do not need to be resubmitted.
The Treasury (Isle of Man) 2025-03-24
Isle of Man Treasury amends Russia sanctions listing details for Tigran Oganesovich Khudaverdyan
The Isle of Man Treasury amended the Russia sanctions regime, aligning with the UK sanctions list update by the UK Foreign, Commonwealth and Development Office. The update pertains to Tigran Oganesovich Khudaverdyan, maintaining asset freeze and trust services sanctions. Entities must freeze assets of designated persons, refrain from making assets available without exemption or licence, and report frozen assets and suspected breaches to the Financial Intelligence Unit.