Sanctions Notice - Ukraine

Council Regulation (EU) 208/2014, as implemented by the Ukraine (Restrictive Measures) (Guernsey) Ordinance, 2014, the Ukraine (Restrictive Measures) (Alderney) Ordinance, 2014 and the Ukraine (Restrictive Measures) (Sark) Ordinance, 2014, has been amended by Council Implementing Regulation (EU) No 2015/357.

4 persons have been removed from the list of designated persons subject to financial restrictions and the details in respect of a further 17 persons who are already designed have been amended. These amendments are automatically effective in the Bailiwick.

Full details of the changes are set out in the Implementing Regulation which is available here: http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:JOL_2015_062_R_0001&from=EN.

MEASURES WHICH SHOULD BE TAKEN

All businesses must check whether they maintain any accounts or otherwise hold any funds or economic resources for any person designated under the legislation listed above 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 any designated person 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 “Ukraine”.

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