The Guernsey Financial Services Commission issued a sanctions notice advising that the UK consolidated list entry for Tsargrad OOO (Unique ID: RUS1406) has been amended. The entity remains designated under the Russia (Sanctions) (EU Exit) Regulations 2019 and continues to be subject to an asset freeze and trust services sanctions, and is now also subject to internet services sanctions as applied in the Bailiwick through Guernsey’s implementation of UK regimes under the Sanctions (Bailiwick of Guernsey) Law, 2018. Businesses are required to check whether they hold accounts for, or otherwise have relationships with, Tsargrad OOO or any other designated person and to treat relevant funds, assets and economic resources as frozen with immediate effect where applicable. Firms must report any findings to the States of Guernsey Policy & Resources Committee immediately, refrain from making funds or economic resources available to designated persons or entities they own or control except under a permitted derogation or licence, and notify the Commission where an affected relationship is identified; under Handbook Rule 12.37, the report to the Commission must include specified minimum information and be made as soon as reasonably practicable after statutory reporting to the Policy & Resources Committee.
Guernsey Financial Services Commission 2025-02-24
Guernsey Financial Services Commission flags amended UK designation for Tsargrad OOO adding internet services sanctions
The Guernsey Financial Services Commission updated the sanctions notice for Tsargrad OOO, which remains under asset freeze and trust services sanctions, now including internet services sanctions. Businesses must verify relationships with Tsargrad OOO, freeze relevant assets, and report findings to the States of Guernsey Policy & Resources Committee and the Commission. Compliance requires adherence to Handbook Rule 12.37 for reporting procedures.