The UK Government has frozen the assets of a right-wing extremist political group, and warned entities, including in Bermuda and other territories against any business ties.

No person or entity required to comply with UK sanctions can deal with any funds or economic resources controlled by Blood and Honour.

Any contact with the neo-Nazi group should be reported, after Treasury officials said they had “reasonable grounds” to link them to the promotion and funding of terrorist activities.

It is now forbidden to make funds, financial services or economic resources available to or for the benefit of Blood and Honour (or any entities it owns or controls), absent permission from HM Treasury.

It is the first time Treasury has led the Domestic Counter-Terrorism sanctions against assets owned or controlled by Blood and Honour – and the first use of such sanctions to target extreme right-wing terrorism.

A statement from the Treasury’s Office of Financial Sanctions Implementation released through the Bermuda Monetary Authority said: “The designation of Blood and Honour is a clear signal that the UK works proactively to stop terrorist financing and will take action against any who try to exploit the UK financial system for this activity.”

From January 2025, all parts of Blood and Honour including any aliases it operates under, which are in the UK, the UK Crown Dependencies and Overseas Territories are subject to an asset freeze.

It is generally prohibited to deal with the funds or economic resources which are owned, held, or controlled by a designated person.

It prevents them from being made available directly or indirectly to the designated person or to another person for the benefit of that designated person.

Actions that intentionally directly or indirectly circumvent the asset freeze or the aforementioned prohibitions are also prohibited.

When an asset freeze is applied, the funds or economic resources are to be 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 HM Treasury for safekeeping.

This designation extends to all parts of Blood and Honour, including any aliases it operates under, eg 28 Radio and Combat 18.

Founded in the UK in 1987 where it has 24 chapters, the designated terrorist group Blood and Honour claims at least 18 chapter countries and has been outlawed in Germany, Spain, Russia and Canada.