The Guernsey Financial Services Commission has alerted businesses that details for Stanislav Sergeyevich Popov and HOUBI GLOBAL S.A., both designated under The Russia (Sanctions) (EU Exit) Regulations 2019, have been varied on the UK Sanctions List. The underlying restrictions remain in place. Popov is still subject to an asset freeze, travel ban, trust services sanctions and director disqualification, while HOUBI GLOBAL S.A. remains subject to an asset freeze, trust services sanctions, director disqualification, internet services sanctions, correspondent banking sanctions and processing payments restrictions. In Guernsey, these UK regulations take effect under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 made under the Sanctions (Bailiwick of Guernsey) Law, 2018. Businesses must check whether they hold accounts or have any other relationship with either of the named targets or with any other designated person or entity under the regime, and must freeze immediately any funds, assets or economic resources connected to them, including where ownership or control is indirect or exercised through persons acting on their behalf or at their direction. Any findings must be reported immediately to the Policy & Resources Committee, alongside compliance with the reporting obligations in section 14 of the Sanctions Law. Firms must also refrain from making funds or economic resources available, directly or indirectly, to designated persons, entities they own or control, or persons acting on their behalf or at their direction, unless a permitted derogation applies or a licence has been issued by the Policy & Resources Committee. Where a firm identifies an affected relationship, it must also notify the Commission and, under Handbook Rule 12.37, submit a report as soon as reasonably practicable after completing its statutory reporting to the Policy & Resources Committee. That report must include at least the relevant customer, beneficial owner, key principal, transaction or asset linked to the sanctioned person, together with the nature and value of the business relationship or occasional transaction.
Guernsey Financial Services Commission2026-07-08
Guernsey Financial Services Commission notifies firms of revised UK Russia sanctions entries for Stanislav Popov and HOUBI GLOBAL S.A.
The Guernsey Financial Services Commission has notified firms that UK Sanctions List details for Stanislav Sergeyevich Popov and HOUBI GLOBAL S.A. have been varied, while the existing Russia sanctions measures against both remain in force. Businesses must check for exposures, freeze relevant assets immediately and report findings to the Policy & Resources Committee. Firms that identify an affected relationship must also notify the Commission and provide the report required under Handbook Rule 12.37.