Guernsey Financial Services Commission amends chemical weapons sanctions listing for Andrei Marchenko and reiterates asset-freeze duties

The Guernsey Financial Services Commission issued a chemical weapons sanctions notice confirming that details for the consolidated list entry for Andrei Marchenko (Unique ID CHW0031) have been amended, while the individual remains designated and subject to an asset freeze. The designation is under the UK Chemical Weapons (Sanctions) (EU Exit) Regulations 2019 as implemented in the Bailiwick of Guernsey under the Sanctions (Bailiwick of Guernsey) Law, 2018 and related implementing regulations. The notice reminds businesses to check whether they hold accounts or have any relationship with the designated person (or any other person or entity designated under the relevant legislation) and to treat relevant funds, assets and economic resources as frozen with immediate effect where not already frozen. Firms must report any findings to the States of Guernsey Policy & Resources Committee and comply with reporting obligations under section 14 of the Sanctions Law, and they must not make funds or economic resources available, directly or indirectly, to designated persons, owned or controlled entities, or persons acting on their behalf except where covered by a permitted derogation or licence. Where an affected relationship is identified, firms are also expected to inform the Commission and provide a report under Handbook Rule 12.37, including (at a minimum) the relevant customer or transaction/asset linked to the sanctioned person and the nature and value of the relationship or transaction, as soon as reasonably practicable after statutory reporting is completed.