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Isle Of Man Imposes Trade Sanctions On Syria

by Jason Gorringe, Tax-News.com, London

09 September 2013


The Isle of Man Treasury stated that its Export Control Order against Syria came into operation on September 06, 2013.

The effect of the Order is to make further provisions for trade restrictions against Syria and certain Syrian persons, according to a government press release. These apply to anyone in the Isle of Man and to Island persons wherever they are in the world.

The measures involved include prohibitions on the export, transfer or the provision of brokering services relating to equipment or technology which might be used for internal repression.

The Order also provides for the enforcement of new trade sanctions, including prohibitions on the provision of financing or financial assistance, brokering services, etc. related to military goods and technology from Syria.

Any export, transfer or provision of brokering services to any Syrian person, or for use in Syria, would only be permitted if authorized by a licence issued by the Treasury.

Offences are created that supplement those already existing in general customs law, and the penalties involved in either case can be significant.

TAGS: Isle of Man | Syria | law | enforcement | penalties | trade | services

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