WIREDGOV

Action represents first use of the Treasury-led domestic counter terrorism financial sanctions regime targeting Northern Ireland related terrorism.

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 Tulip Siddiq 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).