1. The Iraq (Sanctions) (EU Exit) Regulations 2020 (the “UK Regulations”) were made under the Sanctions and Anti-Money Laundering Act 2018 and provide for the freezing of funds and economic resources of certain persons, entities or bodies involved in the former Government of Iraq and its state bodies, corporations or agencies.
2. On 20 May 2022 the Foreign, Commonwealth and Development Office updated the UK Sanctions List to reflect changes to those persons designated under the UK Regulations. A link to the UK Sanctions List can be found below.
3. The Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey) Order 2021 (the “Order”), made under the Sanctions and Asset-Freezing (Jersey) Law 2019 (“SAFL”), links to the UK Regulations.
4. Any changes to asset-freeze designations made under the UK Regulations are effective immediately by virtue of the ambulatory provisions in Jersey’s sanctions legislation.
5. An asset freeze no longer applies to the persons listed in the Annex to this Notice under Part 3 of SAFL.
Notice summary (Full details are provided in the Annex to this Notice)
6. The following designations have been removed and are no longer subject to an asset freeze:
- Khalaf M M AL-DULAYMI
- MIDCO FINANCIAL, S.A.
- MONTANA MANAGEMENT, INC.
7. Further information on sanctions can be found on the Government of Jersey website and the Jersey Financial Services Commission (JFSC) website.
8. Jersey guidance on the Iraq sanctions regime is available on JFSC website.
9. Copies of Jersey sanctions legislation, including the Order and SAFL, can be found on the Jersey Legal Information Board website.
10. A copy of the UK Regulations can be obtained from legislation.gov.uk and other relevant information about this regime can be found on gov.uk.
11. A copy of the UK Sanctions List can be found here.
12. A copy of the UK Office of Financial Sanctions Implementation Consolidated List can be found here.
13. Non-media enquiries, sanctions compliance reporting, and licence applications should be addressed to:
Head of International Compliance
Office of the Chief Executive
Annex to Notice