Guernsey Financial Services Commission issues notice on updated UK Russia sanctions listing for Viatcheslav Kantor

The Guernsey Financial Services Commission published a Russia sanctions notice advising that the UK Sanctions List entry for Viatcheslav Kantor, Unique ID RUS1127, has been varied under the Russia (Sanctions) (EU Exit) Regulations 2019. The individual remains designated and continues to be subject to an asset freeze, trust services sanctions and a director disqualification sanction, with the UK regime given effect in the Bailiwick through Guernsey’s sanctions implementation regulations under the Sanctions (Bailiwick of Guernsey) Law 2018. Businesses are required to check whether they hold accounts or have any relationship with the named individual or any other designated person, entity or body, and to treat relevant funds, assets and economic resources as frozen with immediate effect where this is not already the case. Any findings must be reported to the States of Guernsey Policy and Resources Committee, and firms must not make funds or economic resources available directly or indirectly to designated persons, their owned or controlled entities, or persons acting on their behalf, other than under a permitted derogation or licence granted by the Policy and Resources Committee; affected relationships must also be notified to the Commission with a report meeting the minimum content requirements in Handbook Rule 12.37, provided as soon as reasonably practicable after statutory reporting to the Policy and Resources Committee.