The Isle of Man Treasury issued a sanctions update noting that the UK Foreign, Commonwealth and Development Office has amended two entries on the UK Sanctions List under the Russia sanctions regime, which has effect in the Isle of Man via the Sanctions (Implementation of UK Sanctions) Regulations 2024. Both entries remain designated and subject to an asset freeze. The amended listings are for the individual Igor Yurievch Karasev (UK Sanctions List ref RUS2745), designated on 17 June 2025, and the entity JSC Scientific Research Institute Soliton (UK Sanctions List ref RUS2945), designated on 12 September 2025. Each entry also reflects trust services sanctions in addition to the asset freeze, with the relevant trust services dates shown as 17 June 2025 for Karasev and 12 September 2025 for Soliton. The notice reiterates that where an institution identifies a match to a UK Sanctions List designation, it must immediately freeze relevant funds or economic resources, avoid dealing with or making assets available absent a legal exemption or licence, and report frozen assets and suspected breaches or blocked attempted transactions to the Financial Intelligence Unit, taking account of direct and indirect ownership or control.
The Treasury (Isle of Man) 2025-10-16
Isle of Man Treasury publicises amendments to two UK Russia sanctions list entries while maintaining asset freezes
The Isle of Man Treasury announced amendments to two entries on the UK Sanctions List under the Russia sanctions regime, affecting Igor Yurievch Karasev and JSC Scientific Research Institute Soliton. Both remain designated with asset freezes and trust services sanctions. Institutions must freeze relevant assets, avoid transactions without exemptions, and report to the Financial Intelligence Unit.