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Financial Sanctions: Zimbabwe 8 April 2013

This news release is issued in respect of the financial measures taken against Zimbabwe.

The Treasury advises that following the publication of Commission Implementing Regulation (EU) No 298/2013, the Commission of the European Communities has amended Annex III to Council Regulation (EC) No 314/2004, to suspend until 20 February 2014 the operation of the asset freezing measures contained in Article 6 of the 2004 Regulation in so far as it applies to the 81 individuals and 8 entities listed in the Annex to Regulation 298/2013. The suspension takes effect from 29 March 2013. These individuals and entities comprise the majority of the persons designated under the Zimbabwe financial sanctions regime.

The effect of the suspension referred to above is that there is no prohibition on dealing with the funds or economic resources of those persons listed in the Annex to Regulation 298/2013, or making funds or economic resources available to them. In terms of compliance requirements, suspension means that the prohibitions do not apply for the period for which the relevant prohibitions are suspended.

Details of the 81 individuals and 8 entities whose listing has been suspended are listed in the annex to this notice. Their names have been removed from the Consolidated List of financial targets on HM Treasury's website.

10 individuals and 2 entities remain subject to the asset freeze imposed by the 2004 Regulation.

Further details of the sanctions regime related to Zimbabwe and links to the consolidated list of individuals and entities subject to these and other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.

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