The Guernsey Financial Services Commission published a Russia sanctions notice advising that designation details for Limited Liability Company responsibility of “RBRU Specialized depository”, designated under the UK Russia (Sanctions) (EU Exit) Regulations 2019, have been amended. The entity remains subject to an asset freeze in the Bailiwick of Guernsey under Guernsey’s implementation of UK sanctions regimes. The notice identifies the designated entity by OFSI Group ID 16924 and Unique ID RUS2682 and reminds businesses to check for any accounts or other relationships with this or any other designated person, entity or body. Firms must treat relevant funds, other assets and economic resources as frozen with immediate effect where not already frozen, report any findings to the Policy & Resources Committee immediately, and comply with reporting obligations under section 14 of the Sanctions (Bailiwick of Guernsey) Law, 2018. Businesses must also refrain from making funds or economic resources available directly or indirectly to designated persons or connected entities, except where a permitted derogation applies or a licence has been issued; where an affected relationship is identified, firms must notify the Commission and provide a report meeting the minimum content requirements in Handbook Rule 12.37 as soon as reasonably practicable after completing statutory reporting to the Policy & Resources Committee.

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