The 26 April Tynwald Order Paper also includes this Report being laid before the parliament. It notes that, since 1 January 2021, 1 January 2021, financial and trade sanctions, including those relating to terrorism, are now aligned to those implemented in the UK under the Sanctions and Anti-Money Laundering Act 2018 rather than, as pre-Brexit, EU sanctions law; and that revised sanctions guidance was also published towards the end of 2020, explaining the changes for Island businesses. It reports that the power to issue a Direction was not exercised during 2021, and that no Freezing Orders were issued during 2021. It also reports that there are currently no funds notified to the Treasury as being blocked or frozen for the purposes of the sanctions measures concerned with terrorism or proliferation.
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