Guernsey Financial Services Commission corrects UK Russia sanctions details for four designees and restates asset-freeze obligations

The Guernsey Financial Services Commission issued a Russia sanctions notice correcting the identifying details for four persons and entities designated under the Russia (Sanctions) (EU Exit) Regulations 2019. Vasily Vitalyevich Abramov, Natalya Aleksandrovna Tyurina, JSC SIBERIA AIRLINES and MONOLINK GROUP FZCO remain subject to an asset freeze and trust services sanctions, as implemented in the Bailiwick of Guernsey through the local regulations giving effect to UK regimes. Businesses must check whether they hold accounts or have any other relationship with the named designees (or any other designated person) and freeze with immediate effect any funds, assets or economic resources they own, hold or control directly or indirectly, including interest, dividends and other proceeds and assets held on their behalf or at their direction. Firms must report findings to the States of Guernsey Policy & Resources Committee, avoid making funds or economic resources available to designated persons or entities they own or control unless covered by a permitted derogation or licence, and provide the Commission with a report under Handbook Rule 12.37 including, at a minimum, the relevant customer or transaction identifiers and the nature of the relationship and associated value after meeting the statutory reporting requirements to the Policy & Resources Committee.