Under £2m frozen Russian assets in island
There are currently just under £2m frozen Russian assets in the island.
‘Information received from the Financial Intelligence Unit indicates that there is approximately £1.9m of reported frozen Russian assets,’ he said.
‘However the assets that make up this figure are currently being examined to identify if these assets are actually held in the Isle of Man.
‘In total, there have been 22 aircraft and 49 pleasure craft deregistered by the island’s aircraft and ship registries.’
Mr Wannenburgh asked if there was any concern about how this is affecting the island’s financial services.
The minister said it makes up a ‘very small’ percentage of business in the island.
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