Russian Federation
- Last revised:17 November 2023
Purpose of the Sanctions Regime
This sanctions regime is aimed at encouraging Russia to cease actions which destabilise Ukraine, including actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.
Financial Services
Asset freeze and making available provisions
This sanctions regime imposes financial sanctions through a targeted asset freeze on designated persons and prohibitions on making funds or economic resources available. This involves the freezing of funds and economic resources (non-monetary assets, such as property or vehicles) of designated persons and ensuring that funds and economic resources are not made available to or for the benefit of designated persons, either directly or indirectly.
Other financial and investment restrictions
This sanctions regime prohibits a person from directly or indirectly dealing with a transferable security or money market instrument if it has a maturity exceeding 30 days, and was issued after 1 August 2014 by:
- Sberbank, VTB bank, Gazprombank, Vnesheconombank (VEB), Rosselkhozbank
- an entity incorporated or constituted in a country other than the UK which is owned by one or more of the five banks listed above
- an entity acting on behalf of or at the direction of those five banks named above or an entity incorporated or constituted in a jurisdiction other than Jersey which is owned by one or more of those five banks.
It is also prohibited for a person to directly or indirectly deal with a transferable security or money market instrument if it has a maturity exceeding 30 days, and was issued after 12 September 2014 by:
- OPK Oboronprom, United Aircraft Corporation, Uralvagonzavod, Rosneft, Transneft or Gazprom Neft
- an entity incorporated or constituted in a jurisdiction other than Jersey which is owned by one or more of the six entities listed above
- an entity acting on behalf of, or at the direction of, those six entities named above or an entity incorporated or constituted in a jurisdiction other than Jersey which is owned by one or more of those six entities.
It is prohibited for a person to directly or indirectly deal with a transferable security or money-market instrument if it has a maturity exceeding 30 days, and was issued on or after 1 March 2022 by:
- a person connected with Russia
- an entity owned by such persons
- an entity acting on behalf or at the direction of any of the above.
It is also prohibited for a person to directly or indirectly deal with a transferable security or money-market instrument which was issued on or after 1 March 2022 by the Government of Russia.
For designations made, see Russia: list of persons named in relation to financial and investment restrictions
Loan and credit arrangements
This sanctions regime prohibits a person from directly or indirectly granting or entering into any arrangement to grant a new loan or credit, with a maturity exceeding 30 days to:
- Sberbank, VTB bank, Gazprombank, Vnesheconombank (VEB), Rosselkhozbank, OPK Oboronprom, United Aircraft Corporation, Uralvagonzavod, Rosneft, Transneft or Gazprom Neft
- an entity incorporated or constituted in a jurisdiction other than Jersey which is owned by one or more of the entities listed above
- an entity acting on behalf of or at the direction of the entities listed above or an entity incorporated or constituted in a jurisdiction other than the Jersey which is owned by one or more of those entities.
It is also prohibited for a person from directly or indirectly granting or entering into any arrangement to grant a new loan or credit to the Government of Russia on or after 1 March 2022.
Correspondent banking relationships and sterling payments
This sanctions regime prohibits correspondent banking relationships and processing sterling payments to, from or via, a designated person if the relevant financial institution knows, or has reasonable cause to suspect, that the correspondent banking relationship is with a designated person. This prohibition applies to payment chains or third party payments.
Provision of financial services for the purpose of foreign exchange reserve and asset management
On or after 1 March 2022, it is prohibited to provide financial services for the purpose of foreign exchange reserve and asset management to:
- Central Bank of the Russian Federation, National Wealth Fund of the Russian Federation, Ministry of Finance of the Russian Federation
- a person owned or controlled, acting on behalf of or at the direction of any of the above, directly or indirectly.
Investments in relation to non-government controlled Ukrainian territory
This sanctions regime prohibits:
- directly or indirectly acquiring, extending a participation, or acquiring any ownership interest in land located in non-government controlled Ukrainian territory
- directly or indirectly acquiring, extending a participation, or acquiring any ownership interest in an entity which has a place of business located in non-government controlled Ukrainian territory (Relevant Entity)
- directly or indirectly granting any loan or credit, entering into any arrangement to grant a loan or credit or otherwise provide funds, including equity capital, to a relevant entity or for the purpose of financing the Relevant Entity
- directly or indirectly establishing any joint venture in non-government controlled Ukrainian territory or with a Relevant Entity
- providing investment services directly related to the activities referred to above.
Investments in relation to Russia
This sanctions regime prohibits:
- direct acquisition of any ownership interest in Russian land and persons connected with Russia
- indirect acquisition of any ownership interest in Russian land and persons connected with Russia for the purpose of making funds or economic resources available directly or indirectly to, or for the benefit of, persons connected with Russia
- direct or indirect acquisition of any ownership interest in entities with a place of business in Russia (which are not persons connected with Russia) for the purpose of making funds or economic resources available directly or indirectly to, or for the benefit of, persons connected with Russia
- establishing joint ventures with a person connected with Russia
- opening representative offices and establishing branches and subsidiaries in Russia; or
- the provision of investment services directly related to all activities above.
Trust Services
On or after 16 December 2022, it is prohibited:
- the provision of trust services to or for the benefit of persons designated for the purposes of this measure, and
- the provision of trust services to or for the benefit of persons connected with Russia unless those services were provided immediately prior to 16 December 2022 pursuant to an arrangement that has effect at that time
Trust services means:
- the creation of a trust or similar arrangement
- the provision of a registered office, business address, correspondence address or administrative address for a trust or similar arrangement
- the operation or management of a trust or similar arrangement
- acting or arranging for another person to act as trustee of a trust or similar arrangement.
Overview of current sanctions measures
Current sanction measures implemented by Jersey in relation to the Russia include:
- Asset freezes and restrictions on making funds and economic resources available to and for the benefit of designated persons
- Financial and other investment restrictions, including prohibitions relating to transferable securities or money market instruments, prohibitions relating to loans and credit arrangements, and investments in Crimea
- Prohibitions against the import, export, supply and delivery, making available, or transfer of military goods, military technology, dual-use goods, and dual-use technology
- Prohibitions against the provision of technical assistance, financial services and funds, or brokering services, relating to military goods, military technology, dual-use goods, and dual-use technology
- Restrictions on energy-related goods and related activities
- Restrictions relating to exports and imports certain goods and products
- Travel restrictions
- Shipping restrictions
- Aviation restrictions
- Internet services restrictions
- Crude oil service ban
Latest news
15 November 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je).
9 November 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je).
8 November 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je).
31 October 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je).
26 October 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je).
29 September 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je).
27 September 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je).
19 September 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je).
17 August 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je).
8 August 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je).
31 July 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je)
28 July 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je)
21 July 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je)
20 July 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette (gov.je)
17 July 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette
7 July 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette
6 July 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette
23 June 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette
15 June 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette
31 May 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
Further information can be found on Jersey Gazette
22 May 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
Further information can be found on Jersey Gazette
19 May 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
16 May 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
21 April 2023
The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2023 came into force. These Regulations provide for new trade sanctions measures in relation to Russia and have immediate effect in Jersey. Further information can be found on Jersey Gazette.
21 April 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
13 April 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
12 April 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
6 April 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
22 March 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
21 March 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on the Jersey Gazette.
17 March 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
10 March 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
7 March 2023
The UK Sanctions List has been updated. All current sanctions designations are effective in Jersey immediately. Further information can be found on Jersey Gazette.
28 February 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
24 February 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
09 February 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
08 February 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
14 January 2023
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
28 December 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
20 December 2022
The Minister for External Relations and Financial Services has introduced Jersey General Licence RUSSIA/JSY/2022/1. This General Licence permits the payment of legal fees owed by individuals and entities designated under either the Russia and Belarus sanctions regimes. Further information can be found on the Jersey Gazette.
The Government of Jersey has also published new guidance regarding prohibitions and exemptions for providing certain professional and business-related services to Russia-connected persons. This guidance has been published on Government's Finance Industry and Russian Sanctions page.
16 December 2022
The Minister for External Relations and Financial Services has published a Financial Sanctions Notice regarding recent amendments to the UK sanctions regime, including prohibitions on providing trust services. Further information can be found on the Jersey Gazette.
16 December 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
13 December 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
9 December 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List
8 December 2022
Updated information on the Oil Service ban and Price Cap restrictive measures has been published on the Jersey Gazette.
5 December 2022
The Oil Price Cap on Russian crude oil comes into effect today. More information is available on the GOV UK website.
30 November 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List
11 November 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List
2 November 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List
29 October 2022
The Sanctions and Asset-freezing (Implementation of External Sanctions) (Amendment – Automatic Implementation of UK Sanctions on Russia) (Jersey) Order 2022 comes into force today. Read more on Government of Jersey website.
20 October 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
12 October 2022
The Jersey Financial Sanctions Implementation Unit has updated its sanctions licence and exceptions guidance. This has been done in light of recent legislative amendments. Other general improvements to the guidance have also been made. Read more on the Government of Jersey's website.
10 October 2022
The UK government has recently announced that it will implement services sanctions and an export ban on nearly 700 goods in response to the illegal annexation of Ukrainian regions. Read the full press release on the UK government's website.
All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
4 October 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
30 September 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
28 September 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
26 September 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
16 September 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
6 September 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
2 September 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
23 August 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
9 August 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
2 August 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
26 July 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions) (Exceptions and Licences - Amendment) (Jersey) Order 2022 comes into force today.
26 July 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
21 July 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia - Amendment No.10) (Jersey) Order 2022 comes into force today. This order amends Schedule 1 to the Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey)
20 July 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
19 July 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia - Amendment No.9) (Jersey) Order 2022 comes into force today. This order amends Schedule 1 to the Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey)
16 July 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia - Amendment No.8) (Jersey) Order 2022 comes into force today. This order amends Schedule 1 to the Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey) Order 2021.
15 July 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
13 July 2022
The Minister for External Relations and Financial Services published a Financial Sanctions Notice regarding a Red Alert issued by the National Crime Agency (NCA) and HM Treasury’s Office of Financial Sanctions Implementation (OFSI). Further information can be found on Jersey Gazette.
12 July 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
5 July 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
4 July 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
29 June 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
24 June 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
23 June 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia - Amendment No.7) (Jersey) Order 2022 comes into force today. This order amends Schedule 1 to the Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey) Order 2021.
16 June 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
14 June 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
8 June 2022
The Sanctions and Asset-Freezing (Amendment No. 2) (Jersey) Law 2022 comes into force today. Further information can be found on the Jersey Gazette.
27 May 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
24 May 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
20 May 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
19 May 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
13 May 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
9 May 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
5 May 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
4 May 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
4 May 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia -Amendment No.6) (Jersey) Order 2022 came into force.
26 April 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
21 April 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
20 April 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia -Amendment No.5) (Jersey) Order 2022 came into force.
14 April 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
13 April 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
11 April 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List
8 April 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
6 April 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
5 April 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
4 April 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
31 March 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
31 March 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
30 March 2022
The Russia (Sanctions) (EU Exit) (Amendment) (No. 7) Regulations 2022 came into force. These Regulations extend the existing finance, shipping and trade sanctions measures in relation to Russia. Any changes to asset-freeze designations made under the UK Regulations are effective immediately by virtue of the ambulatory provisions in Jersey's sanctions legislation.
30 March 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
29 March 2022
The Government of Jersey has published New Guidance on the Russia Sanctions Regime as implemented under Jersey's sanctions legislation.
25 March 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List
24 March 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
18 March 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List.
15 March 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette.
15 March 2022
The Current List of designated persons has been updated. All current sanctions designations effective in Jersey are available in other formats on the UK Sanctions List. Further information can be found on Jersey Gazette
11 March 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. 386 members of the State Duma of the Russian Federation have been added to the consolidated list and are now subject to an asset freeze with immediate effect. Further information can be found on Jersey Gazette.
10 March 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. A correction to Sanctions Notice issued on 1 March 2022 has been made by the Ministry of External Relations. Further information can be found on Jersey Gazette.
10 March 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. Seven designations have been added to the consolidated list and are now subject to an asset freeze. Further information can be found on Jersey Gazette.
10 March 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia -Amendment No.3) (Jersey) Order 2022 came into force. It amended Schedule 1 (UK sanctions instruments implemented) and Schedule 3 (special provisions) to Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey) Order 2021.
8 March 2022
The Russia (Sanctions) (EU Exit) (Amendment) (No. 6) Regulations 2022 came into force.These Regulations provide for new aviation and trade sanctions measures in relation to Russia. Any changes to asset-freeze designations made under the UK Regulations are effective immediately by virtue of the ambulatory provisions in Jersey's sanctions legislation.
4 March 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. One designation has been amended and remains subject to an asset freeze. Further information can be found here.
4 March 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. One entry has been amended and two designations have been added to the consolidated list and are now subject to an asset freeze. Further information can be found here.
4 March 2022
Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia -Amendment No.2) (Jersey) Order 2022 came into force. It amended Schedule 1 (UK sanctions instruments implemented) and Schedule 3 (special provisions) to Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey) Order 2021.
2 March 2022
Sanctions and Asset-Freezing (Implementation of External Sanctions) (Amendment – Russia) (Jersey) Order 2022 came into force. It amended Schedule 1 (UK sanctions instruments implemented) to Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey) Order 2021. Any changes to asset-freeze designations made under the UK Regulations are effective immediately by virtue of the ambulatory provisions in Jersey's sanctions legislation.
1 March 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. One entry has been amended and eight designations have been added to the consolidated list and are now subject to an asset freeze. Further information can be found on Jersey Gazette.
1 March 2022
The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022, The Russia (Sanctions) (EU Exit) (Amendment) (No.3) Regulations 2022, The Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2022, The Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2022 came into force. These Regulations expand the scope of the existing financial, trade and shipping prohibitions related to Russia. Any changes to asset-freeze designations made under the UK Regulations are effective immediately by virtue of the ambulatory provisions in Jersey's sanctions legislation.
28 February 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. Three designations have been added to the consolidated list and are now subject to an asset freeze. Further information can be found on Jersey Gazette.
25 February 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. Two designations have been added to the consolidated list and are now subject to an asset freeze. Further information can be found on Jersey Gazette.
24 February 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. Three designations have been amended and remain subject to an asset freeze. Further information can be found on Jersey Gazette.
24 February 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. Two designations have been amended and remain subject to an asset freeze. Eleven designations have been added to the consolidated list and are now subject to an asset freeze. Further information can be found on Jersey Gazette.
23 February 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. Two designations have been amended and remain subject to an asset freeze. Further information can be found on Jersey Gazette.
22 February 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. Eight entries have been added to the consolidated list and are now subject to an asset freeze. Further information can be found on Jersey Gazette.
18 February 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. Three designations have been amended and remain subject to an asset freeze.
16 February 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. Three designations have been amended and remain subject to an asset freeze.
14 February 2022
The Sanctions and Asset-Freezing (Implementation of External Sanctions)(Jersey) Order 2021 gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019. 33 designations have been corrected and 1 designations has been amended. Further information can be found here.
10 February 2022
The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2022 came into force. The Regulations amend the designation criteria of The Russia (Sanctions) (EU Exit) Regulations 2019. Designation criteria now includes those who have been involved in obtaining a benefit from or supporting the Government of Russia. There are no new designations at this time. Further information can be found here.
*All published Latest News notices relating to financial sanctions, including those extending beyond the last 30 days, may be obtained from the Jersey Gazette
Jersey regime
The Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey) Order 2021 (the Jersey Order) implements the Russia (Sanctions) (EU Exit) Regulations 2019 (the UK Regulations).
Article 3 of the Jersey Order imposes the asset-freeze provisions in Part 3 of the Sanctions and Asset-Freezing (Jersey) Law 2019 (the SAFL) on any person listed by or under the UK Regulations. The Part 3 provisions also include, but are not limited to, Articles 15-17 of the SAFL on exceptions, licences, and circumventing prohibitions etc.
Offences
The offences for this regime are set out in Parts 3 (Asset-freezes) and 6 (Information) of the SAFL and in Articles 4 to 6 of the Jersey Order.
Reporting obligations
Reporting obligations are set out at Article 32 of the SAFL and apply to all regimes in force. These obligations include requirements for a relevant financial institution to inform the Minister if:
- it holds an account of a person, has entered into dealings or an agreement with a person or has been approached by or on behalf of a person, and
- it knows, or has reasonable cause to suspect, that the person:
- is a designated person, or;
- has committed an offence, and
- the information or other matter on which the knowledge or reasonable cause for suspicion is based came to it in the course of carrying on its business.
Licences and exceptions
Asset-freeze prohibitions: The provisions on exceptions and licences for asset-freezes are set out in Part 3 of the SAFL. A licence may only be granted by the Minister if there is scope in the relevant UK regulations for an equivalent licence to be granted by the UK Treasury. Exceptions to an asset-freeze that are set out in UK sanctions regulations do not apply in Jersey; however, they may be considered as a basis for an asset-freeze licence application.
Non asset-freeze prohibitions: The provisions on exceptions and licences are set out in Part 3 of the SAFL. A licence may only be granted by the Minister if there is scope in the relevant UK regulations for an equivalent licence to be granted by the UK Treasury. Exceptions to a non asset-freeze prohibition that are set out in UK sanctions regulations apply in Jersey.
UK General Licences do not apply to Jersey persons or institutions operating in Jersey; however, they may be considered as the basis for a licence application.
Jersey General Licence RUSSIA/JSY/2022/1 is in force as of 20 December 2022. This General Licence permits the payment of legal fees owed by individuals and entities designated under either the Russia and Belarus sanctions regimes. Further information can be found on the Jersey Gazette.
NB: This regime also allows for the designation of persons for immigration/travel restrictions, which would be enforced under Jersey’s immigration legislation.
Legal acts
Jersey
- Sanctions and Asset-Freezing (Jersey) Law 2019
- Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey) Order 2021
- Sanctions and Asset-Freezing (Implementation of External Sanctions) (Amendment – Russia) (Jersey) Order 2022
- Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia -Amendment No.2) (Jersey) Order 2022
- Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia -Amendment No. 3) (Jersey) Order 2022
- Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia -Amendment No. 4) (Jersey) Order 2022
- Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia -Amendment No.5) (Jersey) Order 2022
- Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia -Amendment No.6) (Jersey) Order 2022
- Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia - Amendment No.7) (Jersey) Order 2022
- Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia - Amendment No.8) (Jersey) Order 2022
- Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia - Amendment No.9) (Jersey) Order 2022
- Sanctions and Asset-Freezing (Implementation of External Sanctions) (Russia - Amendment No.10) (Jersey) Order 2022
- Sanctions and Asset-Freezing (Implementation of External Sanctions) (Exceptions and Licences - Amendment) (Jersey) Order 2022
- Sanctions and Asset-freezing (Implementation of External Sanctions) (Amendment – Automatic Implementation of UK Sanctions on Russia) (Jersey) Order 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No.3) Regulations 2023.
- The Russia (Sanctions) (EU Exit) (Amendment) (No.2) Regulations 2023.
- The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2023
- The Russia (Sanctions) (EU Exit) (Amendment) (No.17) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No.16) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No.15) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No.14) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No.13) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No.12) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No.11) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No.10) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No. 9) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No. 8) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No. 7) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No. 6) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No. 4) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No.3) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022
- The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2022
- The Russia (Sanctions) (EU Exit) Regulations 2019
- The Sanctions (EU Exit) (Miscellaneous Amendments) (No.2) Regulations 2020
- The Sanctions (EU Exit) (Miscellaneous Amendments) (No.4) Regulations 2020
Further information
The Government of Jersey:
- Finance industry and Russian sanctions (gov.je)
- Guidance (4 Nov 2022)
- Exemptions guidance (19 December 2022)
- Russia Sanctions: Legislation Update (April 2023)
- Sanctions Licences and exemptions guidance (September 2023)
Useful information and guidance links:
- UK sanctions relating to Russia - GOV.UK
- Financial sanctions, Russia - GOV.UK
- Russia sanctions: guidance - GOV.UK
- OFSI Financial Sanctions Guidance
- Providing professional and business services to a person connected with Russia
- Notice to Importers 2953: Russia import sanctions - GOV.UK
- NTE 2023/08: Russia sanctions – Trade sanctions circumvention - GOV.UK
- FCDO Russia Sanctions: Common High Priority Items List
- Guidance for the financial and investment restrictions in Russia (Sanctions) (EU Exit) Regulations 2019
- Russian Oil Services Ban
- Maritime Services Prohibition and Oil Price Cap Guidance (June 2023)
- Guidance on third country processed iron and steel measures - GOV.UK
- Trust Services Sanctions update - OFSI (blog.gov.uk)
Sanctions evasion typologies examples:
- FinCEN Alert Russian Sanctions Evasion
- UK Red ALERT: Financial Sanctions Evasion Typologies: Russian Elites and Enablers
- UK Red ALERT: Gold-based Financial and Trade Sanctions Circumvention
- OFAC Preliminary Guidance on Implementation of a Maritime Services Policy and Related Price Exception for Seaborne Russian Oil
- EU Guidance: Implementing enhanced due diligence to shield against Russia sanctions circumvention
This website uses cookies to analyse our traffic. To find out more read our cookie policy.