Introduction
1. The Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019 (the "UK Regulations") were made under the Sanctions and Anti-Money Laundering Act 2018 and provide for the imposition of financial sanctions, including the freezing of funds and economic resources of persons who are or have been involved in the proliferation or development of nuclear weapons in, or for use in, Iran, or an activity that could lead to the development of nuclear weapons in, or for use in, Iran; or the development of a nuclear weapon delivery system, in or for use in, Iran.
2. On 18 October 2023 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 now applies to the individuals and entities 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. 78 entries have been added to the UK Consolidated List and are subject to an asset freeze. These entries replace 78 entries regarding the same individuals and entities that have been removed from the UK Consolidated List following the Joint Comprehensive Plan of Action (JCPoA) Transition Day. Further information can be found in the Annex to this Notice. A UK FCDO press release related to these changes can be found here: https://www.gov.uk/government/news/e3-statement-on-the-jcpoaseptember-2023
What you must do
7. You must:
immediately check whether you maintain any accounts or hold any funds or economic resources for the persons set out in the Annex to this Notice.
freeze such accounts, and other funds or economic resources without prior notice and without delay.
refrain from dealing with the funds or assets or making them available (directly or indirectly) to such persons unless licensed by the Minister for External Relations ("MER").
report any findings to MER, together with any additional information that would facilitate compliance with SAFL.
provide any information concerning the frozen assets of designated persons that MER may request. Information reported to MER may be passed on to other regulatory authorities or law enforcement.
8. Failure to comply with sanctions legislation or to seek to circumvent its provisions is a criminal offence.
Further Information
9. Guidance on unfreezing assets for delisted persons/ entities can be found on the Government of Jersey website.
10. Further information on sanctions can be found on the Government of Jersey website and the Jersey Financial Services Commission (JFSC) website.
11. Jersey guidance on the Iran (Nuclear) sanctions regime is available on JFSC website.
12. Copies of Jersey sanctions legislation, including the Order and SAFL, can be found on the Jersey Legal Information Board website.
13. 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.
14. The UK Sanctions List.
15. The UK Office of Financial Sanctions Implementation Consolidated List.
Enquiries
16. Non-media enquiries, sanctions compliance reporting, and licence applications should be addressed to:
Financial Sanctions Implementation Unit
sanctions@gov.je
Annex
17. Annex to Financial Sanctions Notice IRAN (Nuclear) 18 October 2023
gov.je