The Guernsey Financial Services Commission published a Russia sanctions notice advising that four persons and entities have been designated under the United Kingdom’s Russia (Sanctions) (EU Exit) Regulations 2019, which are given effect in the Bailiwick of Guernsey under the local UK-regime implementation framework and the Sanctions (Bailiwick of Guernsey) Law 2018. Firms are required to check for any relevant relationships, apply asset freezes with immediate effect where applicable, and meet reporting and funds-availability prohibitions. The newly designated persons and entities are Artyom Sergeevich Kureyev (OFSI Group ID 16988; Unique ID RUS2915), Anna Sergeevna Zamaraeva (16989; RUS2916), Victor Aleksandrovich Lukovenko (16990; RUS2917) and African Initiative (16987; RUS2914), all of whom appear on the UK consolidated list. Businesses must treat as frozen any funds, other assets or economic resources directly or indirectly owned, held or controlled by a designated person (including derived property and assets held on their behalf or at their direction), report any findings immediately to the States of Guernsey Policy & Resources Committee, and comply with the reporting obligations in section 14 of the Sanctions Law. They must also refrain from making funds or economic resources available (directly or indirectly) to designated persons, entities owned or controlled by them, or those acting on their behalf, except where a permitted derogation applies or a licence has been issued by the Policy & Resources Committee; affected relationships must additionally be notified to the Commission, and Handbook Rule 12.37 requires a report to the Commission (after statutory reporting) setting out at least the relevant sanctioned link and the nature and value of the relationship or transaction.

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