1. The Venezuela (Sanctions) (EU Exit) Regulations 2019 (the “UK Regulations”) were made under the Sanctions and Anti-Money Laundering Act 2018 and provide for the freezing of funds and economic resources of certain persons, entities or bodies involved in a serious human rights violation or abuse in Venezuela, the repression of civil society and democratic opposition in Venezuela or other actions, policies or activities which undermine democracy or the rule of law in Venezuela.
2. On 2 August 2022 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 asset-freeze designations made under the UK Regulations are effective immediately by virtue of the ambulatory provisions in Jersey’s sanctions legislation.
5. 2 designations have been corrected on the UK Consolidated List, bringing the entries in line with the UK Sanctions List.
Notice summary (Full details are provided in the Annex to this Notice)
6. The following designation has been amended and remains subject to an asset freeze:
7. The following designations have been corrected and remain subject to an asset freeze:
- Jose Gregorio NORIEGA FIGUEROA (UK Consolidated Group ID: 13851)
- Jose Adelino ORNELAS FERREIRA (UK Consolidated Group ID: 13841)
What you must do
8. You must:
- immediately check whether you maintain any accounts or hold any funds or economic resources for the persons set out in the Annex to this Notice.
- freeze such accounts, and other funds or economic resources without notice and without delay.
- refrain from dealing with the funds or assets or making them available (directly or indirectly) to such persons unless licensed by the Minister for External Relations and Financial Services (“MERFS”).
- report any findings to MERFS, together with any additional information that would facilitate compliance with SAFL.
- provide any information concerning the frozen assets of designated persons that MERFS may request. Information reported to MERFS may be passed on to other regulatory authorities or law enforcement.
9. Where a relevant institution has already reported details of accounts, other funds or economic resources held frozen for designated persons, they are not required to report these details again.
10. Failure to comply with sanctions legislation or to seek to circumvent its provisions is a criminal offence.
11. Further information on sanctions can be found on the Government of Jersey website and the Jersey Financial Services Commission (JFSC) website.
12. Jersey guidance on the Venezuela sanctions regime is available on JFSC website.
13. Copies of Jersey sanctions legislation, including the Order and SAFL, can be found on the Jersey Legal Information Board website.
14. A copy of the UK Regulations can be obtained from legislation.gov.uk and other relevant information about this regime can be found on gov.uk.
15. A copy of the UK Sanctions List can be found here.
16. A copy of the UK Office of Financial Sanctions Implementation Consolidated List can be found here.
17. Non-media enquiries, sanctions compliance reporting, and licence applications should be addressed to:
Head of International Compliance
Office of the Chief Executive
Annex to Notice