17 January 2018, Wednesday, 11:46

Isle of Man joined the sanctions against Lukashenka


News release of goverment of island is issued in respect of the asset-freezing measures taken against Belarusian authorities.

On 7 November 2012 the EU published Council Regulation (EU) No. 1014/2012 and Council Implementing Regulation (EU) No. 1017/2012, amending Council Regulation (EC) No. 765/2006 ("the 2006 Regulation"). The 2006 Regulation introduced restrictive measures against Belarus.

The Council has amended the 2006 Regulation to extend the restrictive measures against Belarus until 31 October 2013, consolidate Annexes I, IA and IB into a single Annex, Annex I and update the identifying information relating to a number of existing entries, with effect from 7 November 2012.

Financial institutions and other persons are required to check whether they maintain any accounts or otherwise hold any funds, financial assets, economic benefits and economic resources for the persons named and if so, they should freeze the accounts or funds and report their findings to the Sanctions Officer. Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for the designated person they are not required to report these details again.