The UK government has frozen the assets of the New IRA and a Londonderry man suspected of terrorist financing. The Treasury announced the sanctions against Kieran James Gallagher, 48, on Thursday, marking the second time it has used domestic counter-terrorism powers to target Northern Ireland-related terrorism.
Gallagher faces comprehensive restrictions. He is barred from acting as a company director and from participating in company promotion, formation or management. UK entities are prohibited from dealing with any funds or economic resources owned by him or the New IRA, or from making financial services available to them.
The government designated Gallagher as an "involved person" who has "been involved in terrorist activity by providing financial services, or making available funds or economic resources, for the purposes of terrorism." The New IRA was designated for engaging in and supporting acts of terrorism.
Government Commitment
Lucy Rigby MP KC, Economic Secretary to the Treasury, emphasized the significance of the action. "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," she said.
Breaching the prohibitions constitutes a criminal offense. The asset freeze does not change ownership of the frozen assets but prevents their use. The measures aim to send "a clear signal" that the UK works proactively to "stop terrorist financing."
Note: This article was created with Artificial Intelligence (AI).
