01481 225824 guernsey@fiu.gov.gg

Sanctions

Bailiwick of Guernsey Sanctions Legislation gives domestic effect to measures taken by the UK, UN and EU. The Bailiwick's Sanctions Regime is completely separate from and operates independently of that in other jurisdictions.

The administration of the Bailiwick's Sanctions Regime is the responsibility of the Policy and  Resources Committee. Under the Sanctions (Bailiwick of Guernsey) Law, 2018, there are specific reporting obligations applicable to businesses that are subject to the Bailiwick of Guernsey regime for anti-money laundering and countering terrorist financing. Further information is published by the States of Guernsey, available within the link provided.

UK Sanctions - Russia

Please be advised that, following Russia's invasion of the Ukraine, further sanctions measures are expected to be introduced in addition to the designations already made this week. In addition to new measures being introduced by the UK, all of which are automatically applicable within the Bailiwick. 

All businesses are required to be proactive in monitoring the emergence of new sanctions and the changes to previous designations. All actions taken by the UK in regard to Russia sanctions can be found at this address as soon as they are made:

Financial sanctions, Russia - GOV.UK (www.gov.uk)

Designated persons are subject to an asset freeze andwill appear on the consolidated list, which can be found here.

 

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