The Guernsey Financial Services Commission has issued a notice that 27 ships have been specified under the United Kingdom's Russia sanctions regulations, which take effect in the Bailiwick of Guernsey through local implementing regulations. Firms must check whether they have any business relationships linked to the named vessels and ensure they comply with the applicable sanctions obligations. Any findings must be reported immediately to the Policy & Resources Committee, and firms must also take any other steps required to meet reporting obligations under section 14 of the Sanctions Law. Where an affected relationship is identified, firms must also report the matter to the Commission under Handbook Rule 12.37, including at least the relevant customer, beneficial owner, key principal or linked transaction or asset, the nature of the business relationship or occasional transaction, and the transaction or asset value. That report must be provided as soon as reasonably practicable after the statutory report has been made to the Policy & Resources Committee.
Guernsey Financial Services Commission2026-06-16
Guernsey Financial Services Commission alerts firms to 27 specified ships under Russia sanctions
The Guernsey Financial Services Commission has warned firms that 27 ships have been specified under the United Kingdom's Russia sanctions regime as applied in Guernsey. Businesses must review any links to those vessels, report findings immediately to the Policy & Resources Committee, and notify the Commission where an affected relationship is identified.