Sanctions Notice - Russia - new restrictions19th April 2022
Please be advised that the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations) have been amended by the Russia (Sanctions) (EU Exit) (Amendment) (No.8) Regulations 2019 (the amending regulations).
The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 that have been made under the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions Law). The amendments in the amending regulations are automatically effective in the Bailiwick.
The amending regulations impose new restrictions in relation to trade in:
- oil refining goods and technology
- quantum computing and advanced materials goods and technology
- luxury goods
- iron and steel goods.
The amending regulations are available here: The Russia (Sanctions) (EU Exit) (Amendment) (No. 8) Regulations 2022 (legislation.gov.uk)
MEASURES WHICH SHOULD BE TAKEN
All businesses must familiarise themselves with the new restrictions and check whether they have any business relationships that may be relevant.
Businesses must report any findings to the Policy & Resources Committee immediately. They must also ensure that they have taken all other steps that may be required in order to comply with the reporting obligations at section 14 of the Sanctions Law.
Businesses must also refrain from carrying out any transaction that is in prohibited by the new restrictions other than in accordance with a licence issued by the Committee for Home Affairs.
The information referred to above is required by the Policy & Resources Committee in the exercise of its powers under section 15 of the Sanctions Law.
Any information or queries should be sent to [email protected] with the subject line “Russia Sanctions”.
Further information on the effect of restrictions and related issues including licences is available on the States of Guernsey website at http://www.gov.gg/sanctions