Financial Sanctions Notice Belarus 5 October 2020

​Introduction

1. Council Regulation (EC) 765/2006 (the “Regulation”) concerning restrictive measures in respect of Belarus has been amended so that an asset freeze now applies to the persons listed in the Annex to this Notice.

Notice summary (Full details are provided in the Annex to this Notice)

2. 40 entries have been added and are subject to an asset freeze.

What you must do

3. You must:

• 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.
• 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 (“MER”).
• report any findings to MER, together with any additional information that would facilitate compliance with the Regulation.
• provide any information concerning the frozen assets of designated persons that MER may request. Information reported to MER may be passed on to other regulatory authorities or law enforcement.

4. Failure to comply with financial sanctions legislation or to seek to circumvent its provisions is a criminal offence.

Legislative details

5. The Regulation is implemented in Jersey by EU Legislation (Sanctions – Belarus) (Jersey) Order 2015 (the “Belarus Order”) implemented under the Sanctions and Asset-Freezing (Jersey) Law 2019 (“SAFL”).

6. On 2 October 2020 Council Implementing Regulation (EU) 2020/1387 (the “Amending Regulation”) was published in the Official Journal of the European Union by the Council of the European Union.

7. The Amending Regulation amended Annex I to the Regulation with effect from 2 October 2020. Any changes to the Annex are effective immediately in Jersey by virtue of the ambulatory provisions of the Belarus Order.

Further information

8. A copy of the Amending Regulation can be obtained from the website of the Official Journal of the European Union.

9. Copies of Jersey sanctions Orders and other legislation, including the Belarus Order and SAFL, can be found on the Jersey Legal Information Board website.

10. Copies of recent Notices, certain EU Regulations and Jersey legislation can be found on the Belarus financial sanctions page on the Jersey Financial Services Commission website.

11. Please note there are also import and export restrictions on Belarus.

12. For more information on Financial Sanctions please see the Jersey Financial Services Commission guidance on financial sanctions.

Enquiries

13. Non-media enquiries, reports and licence applications should be addressed to:

Head of International Compliance

Office of the Chief Executive

External Relations

sanctions@gov.je

Annex to Notice

14. Full details of the additions can be found here.