Russia Sanctions Guidance Update

Published by	External Relations
Type	Sanctions
Date published	20 January 2023

The Russia (Sanctions) (EU Exit) Regulations 2019 (the "UK Russia Regulations"), are implemented in Jersey under the Sanctions and Asset Freezing (Jersey) Law 2019 and the Sanctions and Asset Freezing (Implementation of External Sanctions) (Jersey) Order 2021.

The UK Russia Regulations impose financial, trade, aircraft, shipping, and immigration sanctions for the purpose of encouraging Russia to cease actions which destabilise Ukraine, or undermine or threaten the territorial integrity, sovereignty, or independence of Ukraine.

To achieve the stated purposes, the UK Russia Regulations impose a number of prohibitions and requirements. In order to enforce these, the UK Russia Regulations establish penalties and offences.

Regulation 54C of the UK Russia Regulations, as implemented in Jersey, prohibits providing certain professional and business-related services to Russia-connected persons. However, there is an exemption to enable the fulfilment of statutory and regulatory obligations in respect of these prohibitions. The exemption is detailed in Regulation 60DA of the UK Russia Regulations.

The exemption under Regulation 60DA is also implemented in Jersey. Further guidance on these prohibitions and exemption can be found below.

Professional and business-related services: Exemption Guidance

Additional guidance on sanctions can be found on both the Government of Jersey and Jersey Financial Services Commission websites. If you have any questions about this notice or new guidance, please contact sanctions@gov.je.