The States of Guernsey has today adopted further sanction measures against certain persons, entities and bodies in view of the actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine. All financial institutions and other bodies are requested to check their records to ensure they comply.
It was agreed by the European Council to introduce travel bans and for the freezing of funds and economic resources of persons identified as responsible for actions which undermine or threaten the territorial integrity, sovereignty and independence of Ukraine. The EU implemented Council Regulation (EU) No 269/2014 on 17 March which freezes the assets of 21 people.
Article 8 requires that all financial institutions and bodies supply immediately any information on account and amounts frozen in respect of those persons listed under the Regulation to the Policy Council as the competent authority and licensing authority in relation to these sanctions.
Guernsey has implemented the provisions of these restrictive measures through the Territorial Integrity etc. of Ukraine (Restrictive Measures)(Guernsey) Ordinance, 2014 in order to ensure the Island's sanction regime is in line with international developments. This Ordinance was made by the Legislation Select Committee (under Article 66(3) of the Reform (Guernsey) Law 1948 as amended). The Ordinance will also be laid before the States of Deliberation at the next possible meeting.
Please note that these latest measures are additional to those imposed under the Ukraine (Restrictive Measures)(Guernsey) Ordinance, 2014 which came into force on the 7 March 2014.
All financial institutions and other bodies and persons in Guernsey will need to ensure they do not maintain any accounts or otherwise hold any funds or economic resources for the entities and individuals named in the HMT consolidated list. Financial institutions are advised to take a cautious approach to satisfy this sanction regime. Any queries should be sent to [email protected] subject line 'Ukraine sanctions'.
For more information, please see the States of Guernsey media release which can be accessed here: http://www.gov.gg/article/111674/Guernsey-adopts-restrictive-measures-in-respect-of-actions-undermining-or-threatening-the-territorial-integrity-sovereignty-and-independence-of-Ukraine
A copy of The Territorial Integrity etc. of Ukraine (Restrictive Measures)(Guernsey) Ordinance, 2014 can be found here: http://www.gov.gg/CHttpHandler.ashx?id=86876&p=0
A copy of Council Regulation (EU) No 269/2014 can be found here: http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2014:078:0006:0015:EN:PDF