JERSEY has been named among a list of ‘unfriendly’ countries and territories published by the Kremlin for imposing sanctions on Russia in response to the invasion of Ukraine.
The list was published on the Russian government’s official website and by its state media, in response to jurisdictions which are perceived to have taken ‘unfriendly actions’ against Moscow.
All corporate deals between Russians and individuals and companies named in the list will need to be approved by a government commission. A Russian presidential decree on 5 March also instructed that any large debts owed to anyone based in an ‘unfriendly’ country can temporarily only be paid in roubles, Russia’s national currency.
External Relations and Financial Services Minister Ian Gorst said: ‘There has been widespread condemnation of Russia’s invasion of Ukraine and a number of nations have implemented sanctions and taken appropriate economic crime measures against certain Russian individuals and organisations.
‘Consistent with our standing as a responsible and internationally co-operative jurisdiction, the Government of Jersey has implemented the same package of sanctions as those applied by the United Kingdom, and continues to apply a strong economic crime framework to protect the Island against this risk.
‘We expect island businesses to conform fully with these sanctions and to give careful thought to their business risks and any continuing connections with Russia.
‘The National Cyber Security Centre continues to advise that there is no specific cyber-threat to the UK or Jersey and we are not seeing activity to suggest otherwise. However, this situation can change at short notice and the threat level remains high.’
