Financial Sanctions Notice Iraq 20 April 2022

Introduction 

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 19 April 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 these persons listed in the Annex to this Notice under Part 3 of SAFL.

6. Further, 1 entry on the UK's consolidated list has been corrected bringing the entry in line with the UK Sanctions List.

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

7. The following designations have been removed and are no longer subject to an asset freeze:

• Maki Mustafa HAMUDAT
• Asil Sami Mohammad MADHI TABRAH
• RASHEED BANK
  

8. The following entry has been corrected and is still subject to an asset freeze:

• Omar Sabawi Ibrahim Hasan AL-TIKRITI
  

Further Information

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

10. Jersey guidance on the Iraq sanctions regime is available on JFSC website.

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

12. 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.

13. A copy of the UK Sanctions List can be found here.

14. A copy of the UK Office of Financial Sanctions Implementation Consolidated List can be found here.

Enquiries 

15. Non-media enquiries, sanctions compliance reporting, and licence applications should be addressed to: 

Head of International Compliance
Office of the Chief Executive
External Relations
sanctions@gov.je 

Annex to Notice

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