The Treasury has announced the freezing of the assets of the New IRA and Kieran Gallagher.
The UK Government has today (6 November) acted against the New IRA and an individual it has reasonable grounds to suspect is involved in terrorist activity.
These measures prohibit all persons required to comply with UK sanctions from dealing with any funds or economic resources owned, held or controlled by Gallagher or by the New IRA; or making funds, economic resources or financial services available to them or for their benefit (this includes any entities they own or control), without a licence from HM Treasury or an applicable exception.
Gallagher is also subject to director disqualification sanctions which prohibit him from acting as a director of a company or directly or indirectly taking part in or being concerned in the promotion, formation or management of a company.
Economic Secretary to the Treasury, Lucy Rigby MP KC said:
This action is the second use of the Treasury-led domestic counter-terrorism regime to target Northern Ireland-related terrorism.
These designations reflect this government's continued 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.
An asset freeze has been announced against the New Irish Republican Army (New IRA) for:
- being responsible for, engaging in and providing support for, the commission, preparation and instigation of acts of terrorism;
- facilitating, promoting and encouraging terrorism; and
- carrying out recruitment activities for a person involved in terrorism.
An asset freeze and a director disqualification has been announced against Kieran Gallagher. He is suspected of:
- being involved in terrorist activity by providing financial services, or making available funds or economic resources, for the purposes of terrorism; and
- being involved in terrorist activity by facilitating terrorism.
The designations announced today send a clear signal that the UK works proactively to stop terrorist financing and will take action against those who try to exploit the UK's financial system for this activity.
