The States of Guernsey has adopted new sanction measures against Iran. The new sanctions carry forward the existing sanctions, introduce additional categories or persons as being subject to asset freezing provisions, and extend certain restrictions to the provision of insurance or reinsurance.
Financial services businesses and prescribed businesses will need to familiarise themselves with the new sanctions and check their records to ensure compliance.
Further information on the sanctions and any notifications which need to be made are contained on the States of Guernsey website which can be accessed through the following link: www.gov.gg/sanctionsiran.
Please note that it is proposed that similar legislation will be put in place for Alderney and Sark.