The Guernsey Financial Services Commission has notified businesses that eight ships have been specified under the Russia (Sanctions) (EU Exit) Regulations 2019 and added to the UK sanctions list. The vessels are CHAIVO, PORTOVYY, ALEKSEY KOSYGIN, KONSTANTIN POSIET, PYOTR STOLYPIN, BEBEK-E, AVACHA and GALLE ENERGY. The UK regime applies in the Bailiwick of Guernsey through local sanctions legislation, and the notice follows earlier additions of ships under the same regime. All businesses must check for relationships linked to the vessels and immediately report any findings to the States of Guernsey Policy & Resources Committee. Affected regulated firms must also notify the Commission and, as soon as reasonably practicable after meeting the statutory reporting requirements, provide the information required by Handbook Rule 12.37. This includes the relevant customer, beneficial owner, key principal, transaction or asset, together with the nature and value of the relationship, transaction or asset.
Guernsey Financial Services Commission notifies businesses of eight ships specified under UK Russia sanctions
The Guernsey Financial Services Commission has notified businesses that eight ships have been specified under UK Russia sanctions, which apply in the Bailiwick. Businesses must check for links and immediately report findings to the Policy & Resources Committee, while affected regulated firms must also report prescribed relationship and transaction details to the Commission.