Some 19 British firms are at the centre of an investigation into in a mammoth global money-laundering operation. The scheme was allegedly contrived to make $20bn (£12.5bn) worth of ill-gotten gains appear legitimate. The illicit funds are thought to have originated from criminal gangs and corrupt officials across the globe, attempting to make their dirty […]

On the 15th sept the GFSC advised that some amendments by the Council of the European Union to the sanctions measures in place regarding the Territorial Integrity etc. of the Ukraine and the Russian Federation have been published today with immediate effect. These amendments, which have direct effect in the Bailiwick, are as follows; Territorial Integrity […]

Russia on Thursday banned most food imports from the West in retaliation for sanctions over Ukraine — a sweeping move that will cost Western farmers billions of dollars but could also lead to empty shelves in Russian cities. The decision shows that President Vladimir Putin has no intention of bowing to Western pressure over Ukraine […]

Mirroring the escalation of tensions in and around Ukraine, the EU, US, Canada and other countries have broadened economic sanctions targeting Russia and certain Russian and Ukrainian persons very significantly. In recent days the EU and each of the other countries adopted separate but coordinated packages of further sanctions. Taken together these measures, and particularly […]

On 31 July the EU Council agreed to impose the additional sanctions measures which are summarized below, and which will come into force on 1 August 2014 pursuant to an EU Regulation issued on 31 July: With a view to restricting Russia’s access to EU capital markets, EU nationals and companies may no longer buy […]

Jersey has announced sanctions against Russia in line with the EU’s response to the escalating Ukraine crisis. Chief Minister, Ian Gorst, said Jersey “has a duty to act”. EU action was prompted by the downing of Malaysia Airlines flight MH17, killing all 298 people on board. A Jersey Finance brochure promoting links with Russia suggests […]

Jersey has brought into force restrictive measures against Russian individuals and businesses that have been identified by the European Union as responsible for actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine. A wider EU package of sanctions against Russia has also been enforced in Jersey, including services relating to certain […]

The EU has recently expanded the sanctions it has imposed against Russia in response to the situation in Ukraine. In summary, this briefing covers: The EU’s introduction of “phase 3” sanctions affecting key sectors of the Russian economy such as the banking and energy industries; EU trade restrictions relating to Crimea and Sevastopol; and Expansions […]