Wednesday 01 February 2012
The States of Guernsey has adopted further restrictive measures against certain persons, entities and bodies in view of the situation in Syria. All financial institutions and other bodies are requested to check their records to ensure they comply.
In view of the violent repression against civilians in Syria, including the use of live ammunition which has resulted in the death and injury of a large number of demonstrators from early 2011, the EU implemented measures against those responsible through EU Council Regulation (No) 442/2011. Guernsey adopted this EU Regulation through the Syria (Restrictive Measures) (Guernsey) Ordinance 2011 as amended.
Due to the continued brutal repression, the EU implemented EU Council Regulation (No) 36/2012 which repeals EU Council Regulation (No) 442/2011. The measures build upon restrictive measures providing for an asset freeze, travel bans, an arms embargo, and an exportation ban for technical equipment (i.e. those for oil exploration) and crude oil and petroleum products. In addition, there are new prohibitions in respect of the export of telecommunications monitoring equipment for use by the Syrian regime and the participation in certain infrastructure projects and investment in such projects, together with additional financial restrictions on the provision of financial services.
The Regulation also targets a number of additional entities and individuals who are subject to the asset freeze and travel ban. This new EU Regulation has been implemented through the Syria (Restrictive Measures) (Guernsey) Ordinance 2012.
All financial institutions and other bodies and persons in Guernsey will need to ensure they do not maintain any accounts or otherwise hold any funds or economic resources for the entities and individuals named in the HMT consolidated lists. The Policy Council is the competent authority and licensing authority in relation to these sanctions. Any queries should be sent to sanctions@gov.gg subject line 'Syrian Sanctions'.
