Sanctions Notice - Zimbabwe

Council Regulation (EC) 314/2004, as implemented by the Zimbabwe (Freezing of Funds and Economic Resources) (Guernsey) Ordinance, 2004, the Zimbabwe (Freezing of Funds and Economic Resources) (Alderney) Ordinance, 2004 and the Zimbabwe (Freezing of Funds and Economic Resources) (Sark) Ordinance, 2004, has been amended by Council Implementing Regulation (EU) No 2015/275 with effect from 20 February 2015.

The Implementing Regulation is available here: http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L:2015:047:FULL&from=EN

The effect of the amendment, which is automatically effective in the Bailiwick, is to remove 5 natural persons from the list of persons subject to an asset freeze and related financial prohibitions. 

The persons concerned are Edward Takaruza CHINDORI-CHININGA, Mike Tichafa KARAKADZAI, Stanley Urayayi SAKUPWANYA, Lovemore SEKEREMAYI, and Nathan Marwirakuwa SHAMUYARIRA.

MEASURES WHICH SHOULD BE TAKEN

All businesses must check whether they maintain any accounts or otherwise hold any funds or economic resources for the persons referred to above and, if so, remove all restrictions imposed by the asset freeze for accounts or other funds associated with that person.  Any business which is in that position must also provide information to the Policy Council immediately on the nature and amount of any relevant funds or economic resources, any relevant transactions and the provision of any relevant financial services.

All businesses must also check whether they maintain any accounts or otherwise hold any funds or economic resources for any other person designated under the legislation 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 licensed 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 “Zimbabwe”.

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