Enactment of Council Regulation (EU) 692/2014 of 23 June 2014
11th July 2014Crimea and Sevastopol
In response to the annexation of Crimea and Sevastopol to the Russian Federation, the European Union has enacted Council Regulation (EU) No 692/2014 of 23rd June 2014. The EU Regulation has been implemented in Guernsey by the Crimea and Sevastopol (Restrictive Measures) (Guernsey) Ordinance which is in force from 10th July 2014. Its effect is to prohibit the importation of goods originating in Crimea and Sevastopol and the provision, directly or indirectly, of related financing, financial assistance, insurance or reinsurance. The prohibitions are subject to certain limited exceptions.
Businesses must:
- Check whether they have any business relationships, maintain any accounts or otherwise hold any funds or economic resources that relate to the activities prohibited by the EU Regulation;
- Report any findings to the Policy Council;
- Refrain from taking on or continuing any business which directly or indirectly supports the activities prohibited by the EU Regulation.
Any information or queries should be sent to [email protected]/* */ with the subject line ' Crimea and Sevastopol sanctions'.