JERSEY has implemented sanctions against seven additional people following the Russian invasion of Ukraine, it has been announced.
The move was made following the release of a new sanctions list by the UK.
Any businesses which fail to adhere to the restrictions are being warned that they will face ‘severe criminal consequences’.
The new individuals subject to sanctions are Chelsea Football Club owner Roman Abramovich, Igor Sechin, the chief executive of Rosneft oil company and Oleg Deripaska, a metals and energy businessman.
Dmitri Lebedev, chairman of the board of directors of Bank Rossiya, Alexei Miller, chief executive of Gazprom, Andrei Kostin chairman of VTB Bank and Nikolai Tokarev, president of the Russian state-owned pipeline company Transneft, are also affected.
External Relations Minister Ian Gorst, said: ‘Jersey has immediately implemented the further sanctions announced by the UK today, and we continue to play our part in the international response to the Russian invasion of Ukraine.
‘Jersey is cooperating with the UK in all measures, including in respect of those persons with links to Jersey who have been subject to sanctions today. Our robust legislation is underscored by severe criminal consequences for those who fail to adhere to it
‘We are a responsible and internationally co-operative jurisdiction and are implementing all UK sanctions and are committed to remaining in lockstep with the UK.’
During a meeting held yesterday, Senator Gorst, along with representatives of the other Crown Dependencies met UK government ministers to discuss the Economic Crime Bill which contains a package of economic measures against targeted Russian individuals and organisations.
Senator Gorst said: ‘The meeting was an opportunity for UK Ministers to update the Crown Dependencies on the UK’s work to accelerate the UK Economic Crime Bill. Jersey has had a long-standing beneficial ownership register populated with accurate and vetted beneficial ownership information provided by regulated service providers.’
He added: ‘We exchange this information with authorities worldwide, particularly with the UK and we welcome any efforts globally to improve the accuracy of registry data. We also remain committed to implementing a public registry in the timescale which has already been announced.’
