The Guernsey Financial Services Commission published a Russia sanctions notice advising that a list of ships has been specified under the United Kingdom’s Russia (Sanctions) (EU Exit) Regulations 2019, which are given effect in the Bailiwick of Guernsey through local implementing regulations made under the Sanctions (Bailiwick of Guernsey) Law, 2018. The notice sets out the specified vessels by name alongside reference identifiers and International Maritime Organization numbers for screening purposes. All businesses are instructed to check for business relationships linked to these ships, comply with applicable obligations, and report any findings immediately to the States of Guernsey Policy & Resources Committee, including meeting reporting requirements under section 14 of the Sanctions Law; the information is required by the Committee under section 15. Where an affected relationship is identified, firms must also inform the Commission and submit a Handbook Rule 12.37 report as soon as reasonably practicable after the statutory report to the Policy & Resources Committee, including (at a minimum) the relevant customer or transaction/asset details and the nature and value of the relationship or transaction.
Guernsey Financial Services Commission 2025-05-12
Guernsey Financial Services Commission issues Russia sanctions notice listing specified ships and reiterates reporting duties
The Guernsey Financial Services Commission issued a Russia sanctions notice specifying ships under the UK's Russia (Sanctions) (EU Exit) Regulations 2019, effective in Guernsey via local regulations. Businesses must screen for links to these vessels, report findings to the States of Guernsey Policy & Resources Committee, and submit a Handbook Rule 12.37 report to the Commission if an affected relationship is identified.