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Thursday, October 23, 2014

Somalia : UK Declassified Financial Sanctions Notice

  Somalia - Introduction
1. Council Regulation (EU) 356/2010 (“the Regulation”) imposing financial sanctions against Somalia has been amended so that an asset freeze now applies to the two individuals listed in the Annex to this Notice.

Notice summary (Full details are provided in the Annex to this Notice). 
2. The following entries have been added to the consolidated list and are now subject to
an asset freeze:
 DIRIYE, Ahmed (Group ID: 13150)
 SALMAN, Maalim (Group ID: 13147)
What you must do
3. You must:
i. Check whether you maintain any accounts or hold any funds or economic resources
for the persons set out in the Annex to this Notice;
ii. Freeze such accounts, and other funds or assets;
iii. Refrain from dealing with the funds or assets or making them available to such
persons unless licensed by the Treasury;
iv. Report any findings to the Treasury, together with any additional information that
would facilitate compliance with the Regulation;
v. Provide any information concerning the frozen assets of designated persons that
the Treasury may request. Information reported to the Treasury may be passed on
to other regulatory authorities or law enforcement.
4. Failure to comply with financial sanctions legislation or to seek to circumvent its
provisions is a criminal offence.
Legislative details
5. On 21 October 2014 Council Implementing Regulation (EU) No 1104/2014 (“the
Amending Regulation”) was published in the Official Journal of the European Union (O.J.
L 301, 21.10.2014, p.5) by the European Council of the European Union.
6. The Amending Regulation amended Annex I to the Regulation, with effect from 21
October 2014.
7. The Amending Regulation reflects the decisions made on 23 and 24 September 2014 by
the United Nations Security Council (UNSC) Committee established pursuant to
Resolutions 751 (1992) and 1907 (2009) to add two individuals to the UN Somalia list.
Further Information
8. A copy of the Amending Regulation can be obtained from the Official Journal of the
European Union website :
http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:JOL_2014_301_R_0003&from=EN
9. Copies of relevant Releases, certain EU Regulations, UNSC Resolutions and UK legislation
can be obtained from the Somalia Financial Sanctions page accessible via the Gov.uk

10. Further details on the UN measures in respect of Somalia can be found on the relevant
UN Sanctions Committee .
11. Please note there are also import and export restrictions on Somalia that can also involve
restrictions on insurance, reinsurance, etc. Further guidance on export and trade
sanctions is available from the Gov.uk .
12. Please see the FAQs for more information around financial sanctions:
https://www.gov.uk/government/publications/financial-sanctions-faqs
Enquiries
13. Non-media enquiries, reports and licence applications should be addressed to:
Financial Sanctions
HM Treasury
1 Horse Guards Road
London
SW1A 2HQ
E-mail: financialsanctions@hmtreasury.gsi.gov.uk
Media enquiries should be addressed to the Treasury Press Office on 020 7270 5238.
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