Russia and Belarus Sanctions Resources Page
The United Kingdom has listed more than 1,000 designated persons and entities under its Russia and Belarus sanctions regimes and the list continues to be amended.
The continually changing landscape underscores the importance for Cayman Islands firms to monitor the situation on a daily basis, as jurisdictions around the globe -- including the U.S., E.U., UK and Ireland -- are regularly altering their respective sanctions lists.
Questions regarding financial sanctions can be sent to The Sanctions Coordinator. You can also click here for the FRA's Financial Sanctions Guidance document and here for UK financial sanctions guidance.
• EU: Consolidated Financial Sanctions List (28 July, 2023)
Cayman's Financial Reporting Authority (FRA) continues to notify firms of their responsibilities in carrying out due diligence and adhering to sanctions requirements. These include:
i. check whether you maintain any accounts or hold any funds or economic resources for the persons set out in the Annex to the Notice;
ii. freeze such accounts, and other funds or economic resources and any funds which are owned or controlled by persons set out in the Annex to the Notice;
iii. refrain from dealing with the funds or assets or making them available (directly or indirectly) to such persons unless licensed by the Governor;
iv. report any findings to the FRA at email@example.com, together with any additional information that would facilitate compliance with the Regulation;
v. provide any information concerning the frozen assets of designated persons to the FRA at firstname.lastname@example.org by completing and submitting a Compliance Reporting Form (CRF) available from the website http://fra.gov.ky/contents/page/1. Information reported to FRA may be passed on to other regulatory authorities or law enforcement.
Failure to comply with financial sanctions legislation or to seek to circumvent its provisions is a criminal offence.