The Isle of Man Treasury issued a notice publicising updates to the UK sanctions list under the Russia sanctions regime as it applies in the Isle of Man, covering the designation of six entities, four individuals and 20 vessels. The newly listed entities and individuals are subject to an asset freeze and trust services sanctions, and the vessels are subject to shipping sanctions. The notice reiterates that, where a relevant institution suspects a match to a designated person or entity and holds or deals with their funds or economic resources, it must freeze assets immediately, avoid 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. For specified ships, the regime prohibits entry into UK and Isle of Man ports, allows movement or port entry directions and detention, and prevents registration on the UK and Isle of Man ship registers or terminates existing registration; the Oil Price Cap exception does not apply to services relating to specified ships or to the supply or delivery of Russian oil or oil products in specified ships. Further detail, including the names, unique IDs and IMO numbers of the newly specified vessels and the information on the designated persons and entities, is provided via the notice’s designations annex and the UK sanctions list.
The Treasury (Isle of Man) 2025-06-17
Isle of Man Treasury publicises UK Russia sanctions designations covering 6 entities 4 individuals and 20 vessels
The Isle of Man Treasury updated the UK sanctions list under the Russia sanctions regime, designating six entities, four individuals, and 20 vessels for asset freeze and trust services sanctions. The notice mandates immediate asset freezing and reporting of suspected breaches to the Financial Intelligence Unit. Specified ships face entry prohibitions to UK and Isle of Man ports, with restrictions on registration and the Oil Price Cap exception not applicable.