BACKGROUND
Due to the on-going conflicts in Syria and Ukraine, there has
been much in the press recently about financial and economic
sanctions being imposed against countries and territories and
entities in those countries/territories. However, sanctions are
applied to many different organisations and individuals. Indeed, at
the time of writing, the Isle of Man has 23 sanctions notices in
place. Details of current sanctions regimes may be found on the
Customs and Excise website at http://www.gov.im/treasury/customs/sanctions.xml
In the Isle of Man, Treasury is responsible for administering
United Nations and European Union sanctions regimes but has
delegated this authority to its Customs and Excise Division. These
regimes include sanctions imposed from time to time against
specified countries, territories and entities and also those
intended to combat the funding of terrorism. This article looks at
regimes that impose financial or economic sanctions
