The Treasury (Isle of Man) issued a financial sanctions notice publicising the addition of nine entries under the Republic of Belarus sanctions regime, following an update to the UK sanctions list by the Foreign, Commonwealth and Development Office. All nine designations are now subject to an asset freeze in the Isle of Man. In the Isle of Man, the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 take effect through the Sanctions (Implementation of UK Sanctions) Regulations 2024 made under the Sanctions Act 2024, and allow for financial, trade, aircraft, shipping and immigration sanctions. The new listings comprise six individuals (Andrei Valerievich Ananenko, Mikhail Petrovitch Bedunkevich, Viktor Alexandrovich Dubrovka, Igor Vasilyevich Karpenko, Pavel Ivanovich Kazakov and Andrey Mikhailovich Tsedrik) and three entities (Alevkurp OJSC, KB Unmanned Helicopters (UAVHeli) and Legmash Plant JSC). Relevant institutions must immediately freeze any funds or economic resources they hold for designated persons, avoid making assets available without an exemption or licence, and check potential matches (including ownership and control) to avoid false positives. Frozen assets and suspected breaches or blocked transactions must be reported to the Financial Intelligence Unit, and non-compliance or circumvention is a criminal offence.
The Treasury (Isle of Man) 2025-01-27
Isle of Man Treasury adds nine Belarus sanctions designations and applies asset freezes
The Treasury (Isle of Man) added nine entries to the Belarus sanctions regime, aligning with the UK list update. The designations, including six individuals and three entities, face an asset freeze under Isle of Man regulations. Institutions must freeze assets, avoid unauthorized transactions, and report to the Financial Intelligence Unit; non-compliance is a criminal offence.