The Isle of Man Treasury has issued a notice on the Russia sanctions regime as it applies in the Isle of Man, following the Foreign, Commonwealth and Development Office’s 21 July 2025 update to the UK Sanctions List. The update adds 137 entries and amends two existing entries, with the new listings subject to an asset freeze and trust services sanctions and specified vessels subject to shipping sanctions. The amended entries are individual Yegor Yurievich Karasev and OJSC Keremet Bank, which remain subject to an asset freeze and trust services sanctions, and the bank entry also records correspondent banking relationship restrictions. The additions include new designated entities such as Intershipping Services LLC and Litasco Middle East DMCC, and 135 vessels added via an annex of specified vessels. The notice reiterates that institutions must immediately freeze relevant funds or economic resources, avoid dealing with or making them available unless an exemption or licence applies, and report frozen assets and suspected breaches or blocked transactions to the Financial Intelligence Unit, including where ownership or control links bring an entity within scope.
The Treasury (Isle of Man) 2025-07-22
Isle of Man Treasury publicises UK Russia sanctions update adding 137 designations including 135 vessels
The Isle of Man Treasury has updated its Russia sanctions regime, aligning with the UK Sanctions List as of 21 July 2025. The update includes 137 new entries and amendments to two existing entries, imposing asset freezes, trust services sanctions, and shipping sanctions on specified vessels. Institutions are required to freeze relevant assets, avoid unauthorized dealings, and report to the Financial Intelligence Unit.