Sanctions Notice - Egypt

The EU Council has decided to extend the current sanctions regime in view of the situation in Egypt.  As a result, the asset freeze and other financial restrictions imposed by   Council Regulation (EU) 270/2011, as implemented by the Egypt (Freezing of Funds) (Guernsey) Ordinance, 2011, the Egypt (Freezing of Funds) (Alderney) Ordinance, 2011 and the Egypt (Freezing of Funds) (Sark) Ordinance, 2011, will continue to apply until 22nd March 2016.

This amendment is automatically effective in the Bailiwick.

The decision is set out in Council Decision (CFSP) 2015/486 which is available here: http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2015.077.01.0016.01.ENG

MEASURES WHICH SHOULD BE TAKEN

All businesses must check whether they maintain any accounts or otherwise hold any funds or economic resources belonging to, or owned, held or controlled by persons 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 or for the benefit of the natural or legal persons, entities or bodies listed unless authorised 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 “Egypt”.

Further information on the effect of asset freezes and related issues is available on the States of Guernsey website at http://www.gov.gg/sanctions.