Sanctions Notice - Iraq

United Nations Security Council Resolution 1518, as implemented in the Bailiwick by the Iraq (United Nations Sanctions) Channel Islands Order 2000, has been amended. The effect of the amendment, which is automatically effective in the Bailiwick, is to remove nineteen entities from the list of persons subject to financial restrictions under Resolution 1518.

Further details about the amendment are available here:

https://www.un.org/press/en/2016/sc12523.doc.htm

MEASURES WHICH SHOULD BE TAKEN

Businesses must check whether they maintain any accounts or otherwise hold any funds or economic resources for any person designated under Resolution 1518, and must treat any such accounts, funds or economic resources as frozen with immediate effect if this is not already the case. They must report any findings to HM Procureur immediately. Businesses must also refrain from making any funds or economic resources available directly or indirectly to any listed person unless this is in connection with a transaction that comes within a permitted derogation and has been authorised by HM Procureur.

The information referred to above is required by HM Procureur in the exercise of powers conferred by the 2000 Order.

Any information or queries should be sent to [email protected] with the subject line “Iraq”.

Further information on the effect of asset freezes and related issues including licences is available on the States of Guernsey website.