The Isle of Man Treasury has issued a sanctions update publicising an amendment to a single entry on the UK Sanctions List under the Russia sanctions regime as it applies in the Isle of Man. The entry for Sergey Vladimirovich Mikhailov remains subject to an asset freeze and trust services sanctions. The Russia (Sanctions) (EU Exit) Regulations 2019 have effect in the Isle of Man through the Sanctions (Implementation of UK Sanctions) Regulations 2024 made under the Sanctions Act 2024. Mikhailov (UK Sanctions List ref RUS1387) is listed as a Russian national and former Director General of the Russian News Agency TASS, with the updated statement of reasons linking his designation to supporting the Government of Russia through carrying on business as a government-affiliated entity in that role. The record notes he was designated and listed on 04/05/2022, and that trust services sanctions were imposed on 21/03/2023. The notice reiterates that where there is a suspected match, funds and economic resources must be frozen immediately, not dealt with or made available without a legal exemption or licence, and frozen assets and suspected breaches or blocked transactions must be reported to the Financial Intelligence Unit. Screening should also consider whether a corporate entity is owned or controlled, directly or indirectly, by a person on the UK Sanctions List.
The Treasury (Isle of Man) 2025-11-28
Isle of Man Treasury publicises amendment to Russia sanctions listing for Sergey Vladimirovich Mikhailov retaining asset freeze and trust services sanctions
The Isle of Man Treasury has updated the UK Sanctions List under the Russia sanctions regime, maintaining an asset freeze and trust services sanctions on Sergey Vladimirovich Mikhailov. Mikhailov, a Russian national and former Director General of TASS, is designated for supporting the Russian government. The notice emphasizes immediate freezing of assets and reporting of suspected breaches to the Financial Intelligence Unit.