Tynwald will be asked to approve sanctions against the Ukraine next month.
Guided by the EU the Isle of Man has enforced temporary restrictions against specific people and bodies.
It follows the turmoil being experienced in the country at the present time.
Financial institutions on the Island are being asked to freeze accounts or funds and, unless they're licensed by the Treasury, refrain from dealing with them.
Minister Eddie Teare says the Island is following advice:
DJ and former Island resident dies after battling cancer
Former Island resident Andy Kershaw has died.
Nursing organisation to contact staff over pay offer
The Royal College of Nursing says it'll consult staff members about Manx Care's latest pay offer next week.
More Marvel films for Joe Locke?
Could Manx actor Joe Locke be returning to the Marvel universe?
Coast road restrictions for weekend charity walk
The Kirk Michael Coast Road will have speed limits and a one-way restriction to allow for a walking event this weekend.
UK refuses to forward assisted dying bill for Royal Assent
The UK says it won't recommend the Island's new assisted dying laws for Royal Assent.
External investigation opened into Peel Commissioners staff member
The chair of Peel Commissioners has confirmed a member of staff is being investigated.
Bus strike's end is bittersweet for some, says union leader
A union leader says the end of the bus strike is a bittersweet moment for some.
MHK says to contact him over car tax issues
Onchan MHK Rob Callister is urging constituents to contact him if they're having problems taxing their car after recent changes.
