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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 amendments, which are automatically effective in the Bailiwick, is to remove one entity from the list of persons subject to financial restrictions under Resolution 1518.

Further details about the amendments are available here:

http://www.un.org/press/en/2017/sc13089.doc.htm

 

MEASURES WHICH SHOULD BE TAKEN

All businesses must check whether they maintain any accounts or otherwise have any kind of relationship with any natural or legal person, entity or body designated under Resolution 1518, and must treat any funds, other assets or economic resources

  • directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or

  • derived from any funds or economic resources directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or

  • belonging to individuals or entities acting on their behalf or at their direction, whether wholly or jointly

as frozen with immediate effect if this is not already the case. Businesses must report any findings to HM Procureur immediately.

 

Businesses must also refrain from making any funds or economic resources available directly or indirectly, wholly or jointly, to or for the benefit of

  • any designated person, entity or body

  • any entity directly or indirectly owned or controlled by a designated person, entity or body, whether wholly or jointly

  • any individuals or entities acting on behalf or at the direction of a designated person, entity or body, whether wholly or jointly

other than in respect of transactions that come within a permitted derogation and have 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 sanctions@gov.gg 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 at https://gov.gg/sanctions