Ireland tightens asset freezes on ISIL and Al-Qaida linked parties

Ireland has updated its restrictive measures against persons and entities associated with the ISIL (Da’esh) and Al-Qaida organisations, tightening the asset-freezing regime that applies to designated parties and the financial institutions that deal with them. The new rules are set out in S.I. No. 440 of 2026, the Criminal Justice (Terrorist Offences) Act 2005 (Section 42) (Restrictive Measures Concerning Certain Persons and Entities Associated with the ISIL (Da’esh) and Al-Qaida Organisations) (No. 5) Regulations 2026, published in Iris Oifigiúil on Tuesday, 25 August 2026.

Legal basis and scope

The instrument was made by the Minister for Finance in exercise of the powers conferred by subsections (2) and (6) of section 42 of the Criminal Justice (Terrorist Offences) Act 2005 (No. 2 of 2005). Its stated purpose is to give further effect to Council Regulation (EC) 881/2002 of 27 May 2002, the EU legal framework that imposes targeted financial sanctions on those linked to ISIL and Al-Qaida.

As the fifth set of regulations of 2026 under this heading, the instrument updates the domestic list of designated persons and entities and the obligations that attach to them. It forms part of Ireland’s ongoing transposition of the EU sanctions regime into national law.

What the measures require

The regulations impose a freeze on the funds and economic resources of designated persons and entities, and prohibit making funds or economic resources available to them, directly or indirectly. In practice this means:

• Financial institutions must check customers and transactions against the updated list of designated parties.
• Any funds or economic resources belonging to, or held on behalf of, a designated person or entity must be frozen without delay.
• Making funds or economic resources available to a designated party is prohibited unless an exemption applies.
• Breaches of the measures carry the penalties provided for under the Criminal Justice (Terrorist Offences) Act 2005.

The measures are addressed to all persons and entities in the State, with particular operational consequences for banks, credit institutions and other financial service providers that may hold or process assets connected to listed parties.

Publication and availability

The regulations were published in Iris Oifigiúil, Number 68, dated 25 August 2026. Copies may be purchased from Government Publications, Mountshannon Road, Kilmainham, Dublin, D08 XA06, at a price of €6.50.

Why it matters

For financial institutions and compliance teams, the update is a reminder that the EU’s ISIL and Al-Qaida sanctions list is a living instrument that must be monitored continuously. Designated parties and their associates face a full asset freeze in Ireland, and any institution that fails to identify and freeze such assets risks significant legal exposure under the Criminal Justice (Terrorist Offences) Act 2005.

Source: Iris Oifigiúil, No. 68, 25 August 2026, Section I (official reference: S.I. No. 440 of 2026).