Sanctions Notice - Russia

Please be advised that the UK authorities have issued a 'Red Alert' on financial sanctions evasion typologies by Russian elites and enablers. The alert is available via Red Alert - Financial Sanctions Evasion Typologies: Russian Elites and Enablers (nationalcrimeagency.gov.uk).

Its purpose is to provide information from law enforcement and the legal and financial services sectors on some of the common techniques designated persons and their UK enablers are suspected to be using to evade financial sanctions. These sanctions are set out in the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK regulations).

The alert is not directly applicable to the Bailiwick. However, as the UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020, the typologies in the alert may be helpful to persons in the Bailiwick in identifying possible sanctions evasion activity.  Businesses are therefore advised to familiarise themselves with the content of the alert.