1. The Russia (Sanctions) (EU Exit) Regulations 2019 (the "UK Regulations") were made under the Sanctions and Anti-Money Laundering Act 2018 and impose various financial sanctions including the freezing of funds and economic resources and further restrictions on persons (both individuals and entities) who have been designated for their involvement in destabilising Ukraine or undermining or threatening the territorial integrity, sovereignty, or independence of Ukraine, or obtaining a benefit from or supporting the Government of Russia.
2. On 21 March 2023 the Foreign, Commonwealth and Development Office updated the UK Sanctions List to reflect changes to those persons designated under the UK Regulations. A link to the UK Sanctions List can be found below.
3. The Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey) Order 2021 (the "Order"), made under the Sanctions and Asset-Freezing (Jersey) Law 2019 ("SAFL"), links to the UK Regulations.
4. Any changes to designations made under the UK Regulations are effective immediately by virtue of the ambulatory provisions in Jersey's sanctions legislation.
Notice summary (Full details are provided in the Annex to this Notice)
5. 1730 entries have been amended on the UK Consolidated List to reflect the designations made in respect of trust services sanctions. The following has been added to the 'Other Information' field of each entry.
6. 7 entries have been amended to add the following information to the 'Other Information' field, in addition to the information in paragraph 3.
7. 1 entry has been amended to add the following information to the 'Other Information' field, in addition to the information in paragraphs 3 and 4.
8. Further information can be found in the Annex to this Notice. No further changes have been made to the UK Consolidated List.
What you must do
9. You must:
i. check whether you provide any trust services to or for the benefit of designated persons set out in the Annex to this Notice
ii. cease the provision of any trust service(s) to or for the benefit of designated persons set out in the Annex to the Notice unless licensed by the Minister for External Relations (the "Minister") or an exception applies;
iii. check whether you maintain any accounts or hold any funds or economic resources for the persons set out in the Annex to this Notice;
iv. freeze such accounts, and other funds or economic resources which are owned or controlled by persons set out in the Annex to this Notice;
v. refrain from dealing with the funds or economic resources or making them available (directly or indirectly) to designated persons unless licensed by the Minister;
vi. report any findings to the Minister, together with any additional information that would facilitate compliance with the Russia Regulations;
vii. provide any information concerning the frozen funds or economic resources of designated persons that the Minister may request pursuant to its powers under the SAFL. Information reported to the Minister may be passed on to other regulatory authorities or law enforcement.
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