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.
• CIIPA FAQ on Russia and Belarus sanctions
• Details of General License Issued by the Governor of the Cayman Islands
• Cayman Islands Financial Reporting Authority financial sanctions guidance
• Cayman Islands Financial Reporting Authority Public Notice (March 2022)
• ICAEW Ukraine crisis central resource hub
• ACAMS Ukraine Crisis Rapid Response Resources
• UK: Russia financial sanctions guidance
• UK: Professional and business services to a person connected with Russia|
• US & EU: Guidance on Russian export sanctions prohibitions
• US: Department of Treasury Russia-related sanctions accounting sector FAQ
• National Crime Agency issues 'Red Alert' on financial sanctions evasion typologies by Russian elites, enablers (12 July)
• US: Department of Treasury Russia-related sanctions FAQ
• EU: Consolidated Financial Sanctions List (27 Oct., 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 firstname.lastname@example.org, 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 email@example.com 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.