The Guernsey Financial Services Commission notified businesses that the UK Sanctions List details for Viktor Leonidovich Bedrik, Mamuka Pipia and Federalnoe Kazennoe Predpriiatie Gosudarstvennyi Nauchno Issledovatelskii Institut Khimicheskikh Produktov have been varied. All three remain designated under the Russia sanctions regime and subject to an asset freeze, travel ban, trust services sanctions and director disqualification sanction, as implemented in the Bailiwick of Guernsey. Businesses must check for accounts, assets or other relationships connected to the designated parties and immediately freeze relevant funds and economic resources. They must not make funds or economic resources available to or for the benefit of designated persons, controlled entities or persons acting on their behalf, except under an applicable derogation or licence. Any findings must be reported immediately to the Policy & Resources Committee. Regulated firms must then report affected relationships to the Commission as soon as reasonably practicable, identifying the relevant customer, beneficial owner, key principal, transaction or asset and providing details of the relationship and its value.

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