Please be advised that there have been a number of developments in relation to the Bailiwick's sanctions regime which are set out below. These developments concern sanctions relating to Iran – Nuclear Proliferation.
In recognition of the steps taken by Iran to comply with the Joint Comprehensive Plan of Action agreed 6 months ago with the E3/EU+3, amendments have been made to Council Regulation (EU) 267/2012 (as implemented by the Iran (Restrictive Measures) (Guernsey) Ordinance 2012, the Iran (Restrictive Measures) (Alderney) Ordinance 2012 and the Iran (Restrictive Measures) (Sark) Ordinance 2012.
The amendments are set out in Council Regulation (EU) No 2015/1861, which has now been brought into force and is available here:
The effect of the amendments, which are automatically effective in the Bailiwick, is to remove the restrictions on transfer of funds and financial services and to modify the restrictions on imports/exports, technical assistance and transport. The financial restrictions in relation to listed persons remain in place, and the criteria for listing have been expanded.
MEASURES WHICH SHOULD BE TAKEN
All businesses must familiarise themselves with the changes to the legislation. They must also check whether they maintain any accounts or otherwise hold any funds or economic resources for any person designated under the legislation listed above and treat any such accounts, funds or economic resources as frozen with immediate effect if this is not already the case. They must report any findings to the Policy Council immediately. Businesses must also refrain from making any funds or economic resources available directly or indirectly to any designated person unless licensed by the Policy Council.
The information referred to above is required by the Policy Council in the exercise of its powers under the Schedule to each of the Ordinances listed above.
Any information or queries should be sent to [email protected] with the subject line “Iran”. Further information on the effect of asset freezes and related issues including licences is available on the States of Guernsey website at http://www.gov.gg/sanctions
Further to the notice above relating to the lifting of some restrictive measures relating to Iran, the EU has now issued an Information Note containing further information about the Joint Comprehensive Plan of Action and the effect of the latest amendments.
The Policy Council is not bound by the Note but will take it into account when considering any question of implementation within the Bailiwick.