The Isle of Man Treasury updated General Licence IOM/2023/RUS041 under the Isle of Man’s Russia financial sanctions framework, extending the licence indefinitely and amending reporting conditions. The licence permits a person acting on behalf of certain entities owned or controlled by a designated person to file an annual return with the Companies Registry and pay the statutory filing fee, with relevant institutions able to carry out activity reasonably necessary to effect the payment. The update changes the reporting email address to sanctions@gov.im and makes minor legislative reference amendments. Users of the licence must report to the Treasury within seven working days of paying the statutory fee with the required details and supporting evidence, and must retain accurate records for at least six years. The permissions do not authorise acts that the person knows, or reasonably suspects, would make funds or economic resources available in breach of the Regulations, except as permitted under licences granted under those Regulations.
The Treasury (Isle of Man) 2026-01-21
Isle of Man Treasury extends Russia sanctions general licence for Companies Registry annual return filings to indefinite duration
The Isle of Man Treasury has indefinitely extended General Licence IOM/2023/RUS041 under its Russia financial sanctions framework, amending reporting conditions and requiring users to report statutory fee payments within seven working days. The update includes a new reporting email and mandates record retention for six years, while prohibiting actions that breach the Regulations unless permitted by granted licences.