Financial Sanctions Notice Russia 20 July 2023

​Introduction 

1. The Russia (Sanctions) (EU Exit) Regulations 2019 (the "UK Regulations") were made under the Sanctions and Anti-Money Laundering Act 2018 and provide for the imposition of financial sanctions, including asset freezes and other financial and investment restrictions, on persons who are or have been involved 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 20 July 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 asset-freeze designations made under the UK Regulations are effective immediately by virtue of the ambulatory provisions in Jersey's sanctions legislation.

5. An asset freeze no longer applies to the entries listed in the Annex to this Notice under Part 3 of SAFL.

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

6. The following designation has been removed and is no longer subject to an asset freeze:

• Oleg Yurievich TINKOV (UK Consolidated Group ID: 15041) 

7. The following entry has been corrected is still subject to an asset freeze and trust services sanctions:

• SUN SHIP MANAGEMENT (D) LTD (UK Consolidated Group ID: 15914)
  

Further Information

8. Further information on sanctions can be found on the Government of Jersey website and the Jersey Financial Services Commission (JFSC) website.

9. Jersey guidance on the Russia sanctions regime is available on JFSC website.

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

11. 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.

12. A copy of the UK Sanctions List can be found here.

13. A copy of the UK Office of Financial Sanctions Implementation Consolidated List can be found here.

Enquiries 

14. Non-media enquiries, sanctions compliance reporting, and licence applications should be addressed to: 
Financial Sanctions Implementation Unit

sanctions@gov.je

Annex 

15. Annex to Financial Sanctions Notice 20 July 2023