The Isle of Man Treasury issued a notice publicising a correction to one entry on the UK sanctions list under the Russia sanctions regime as it applies in the Isle of Man. The correction relates to GAZPROM NEFT and does not alter its designation, with the entity remaining subject to an asset freeze and trust services sanctions. The Russia (Sanctions) (EU Exit) Regulations 2019 have effect in the Isle of Man via the Sanctions (Implementation of UK Sanctions) Regulations 2024. Following the Foreign, Commonwealth and Development Office’s update of the UK sanctions list on 14 January 2025, the consolidated list entry for GAZPROM NEFT was amended to correct a duplication of the primary name, with “PUBLIC JOINT STOCK COMPANY GAZPROM NEFT” moved to a primary name variation; the entry retains identifiers including UK Sanctions List Ref RUS2383 and notes trust services sanctions imposed on 10 January 2025. The notice reiterates that where a person or entity is suspected to match a listed entry and funds or economic resources are held or dealt with, assets must be frozen immediately, dealings prohibited absent an exemption or licence, and frozen assets and suspected breaches reported to the FIU.
The Treasury (Isle of Man) 2025-01-15
Isle of Man Treasury publicises correction to UK Russia sanctions entry for Gazprom Neft
The Isle of Man Treasury corrected the UK sanctions list entry for GAZPROM NEFT under the Russia sanctions regime, maintaining its asset freeze and trust services sanctions. Following the Foreign, Commonwealth and Development Office's update, the primary name is now "PUBLIC JOINT STOCK COMPANY GAZPROM NEFT" without altering its designation. The notice emphasizes freezing assets and reporting suspected breaches to the Financial Intelligence Unit.