The UK Government has announced a full asset freeze against an
individual they have reasonable cause to suspect is involved in
terrorist activity by facilitating terrorism and associating with
members of the New Irish Republican Army (‘New IRA').
Brian Sheridan (born Armagh) is further suspected of providing or
assisting others in providing financial services or making
available funds or economic resources for the New IRA.
All funds and economic resources in the UK owned, held or
controlled by Sheridan are frozen. This designation will prevent
all UK persons and entities from maintaining any direct or
indirect financial relationship with him or any of the companies
he owns or controls without a licence from HM Treasury.
Economic Secretary to the Treasury said:
This action is the first use of the Treasury-led domestic counter
terrorism financial sanctions regime targeting Northern Ireland
related terrorism.
This designation reflects this government's commitment to
protecting the peaceful consensus of the people of Northern
Ireland, and to upholding the principles of the Good Friday
Agreement in support of the UK's wider efforts to protect
national security for all citizens.
Further information
- From 3 December 2024, Sheridan and his associated company,
Brisher Limited, is subject to an asset freeze in the UK, the UK
Crown Dependencies and Overseas Territories.
- Regulation 5 of the Counter-Terrorism (Sanctions) (EU Exit)
Regulations 2019 allows HMT to designate people by name for the
purpose of freezing assets, making it an offence for any UK
person or entity to maintain any direct or indirect financial
relationship with him or any of the companies he owns or controls
without a licence from HM Treasury.
- An asset freeze means that it is generally prohibited to deal
with funds or economic resources which are owned, held or
controlled by a designated person. The freeze prohibits the
making available of further funds, financial services or economic
resources directly or indirectly to a designated person or for
their benefit, and actions that directly or indirectly circumvent
the prohibitions.
- When an asset freeze is applied, the funds or economic
resources are frozen immediately by the person in possession or
control of them.
- Imposing an asset freeze does not change the ownership of the
frozen funds or economic resource and nor are they transferred to
the Office of Financial Sanctions Implementation or HM Treasury
for safekeeping.
Sanctioned individual:
In addition to Brian Sheridan as an individual, the designation
extends to companies and organisation controlled by him,
including Brisher Ltd (Trade Register number 710738).
