Financial Sanctions Notice Iran (Nuclear) 16 March 2021

Introduction

1. The Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019 (the “UK Regulations”) provide for the freezing of funds and economic resources of certain persons, entities or bodies responsible for the proliferation or development of nuclear weapons in, or for use in, Iran.

2. 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.

3. 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.

Notice summary (Full details are provided in the Annex to this Notice)

4. The following designations have been amended and remain subject to an asset freeze:

• Qasem SOLEIMANI
• STEP STANDART TEKNIK PARCA SAN VE TIC A.S.

What you must do

5. You must:

• 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.
• 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.

6. Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for designated persons, they are not required to report these details again.

7. Failure to comply with sanctions legislation or to seek to circumvent its provisions is a criminal offence.

Further Information

8. Further information on sanctions can be found on the Government of Jersey website and the Jersey Financial Services Commission (JFSC) website.

9.Jersey guidance on the Iran (Nuclear) sanctions regime is available on JFSC website.

10. Copies of Jersey sanctions legislation, including the Order and SAFL, can be found on the Jersey Legal Information Board website.

11. 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.

12. A copy of the UK sanctions list can be found here.

13. A copy of the OFSI consolidated list can be found here.

Enquiries

14. Non-media enquiries, suspected breach reports and licence applications should be addressed to:

Head of International Compliance

Office of the Chief Executive

External Relations

sanctions@gov.je

Annex to Notice

15. Full details of the amendments can be found here.

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