Financial Sanctions Notice Syria 5 June 2020

Introduction 

1. Council Regulation (EU) 36/2012 (“the Regulation”) imposing financial sanctions in view of the situation in Syria has been amended.

2. Identifying information for the individuals and entities listed in the Annex to this Notice has been amended.

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

3. 335 entries have been amended and remain subject to an asset freeze.

What you must do

4. 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

5. 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.

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

Legislative details

7. The Regulation is implemented in Jersey by EU Legislation (Sanctions – Syria) (Jersey) Order 2014 implemented under the Sanctions and Asset-Freezing (Jersey) Law 2019 (“SAFL”).

8. On 29 May 2020 Council Implementing Regulation (EU) 2020/716 (“the Amending Regulation”) was published in the Official Journal of the European Union by the Council of the European Union.

9. The Amending Regulation amended Annex II to the Regulation with effect from 30 May 2020. Any changes to the Annex are effective immediately in Jersey by virtue of the ambulatory provisions of the Syria Order.

Further Information

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

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

12. Copies of recent Notices, certain EU Regulations and Jersey legislation can be found on the Syria financial sanctions page on the Jersey Financial Services Commission (JFSC) website.

13. Please note there are also import and export restrictions on Syria.

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

Enquiries

15. 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

16. Full details of the 335 amendments

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