The Ukraine (Sanctions) (Overseas Territories) Order : Advisory Warning No.1 of 2014
The British Virgin Islands Financial Services Commission (the “FSC”) is advising the public that on 5 March, 2014, The Ukraine (Sanctions) (Overseas Territories) Order 2014 was ratified and extended to the Territory by virtue of article 1 and Schedule 1 to the Order.
NOTICE IS HEREBY GIVEN that this Order freezes in specified Overseas Territories (including the British Virgin Islands) the assets of persons who have been identified as responsible for misappropriation of Ukrainian State Funds. Those persons are identified and listed in Schedule 4 of the Order and all are required to consider and apply the terms of the Order accordingly. The Order corresponds to the sanctions regime adopted by the European Union in relation to Ukraine.
On 5 March 2014, the Council adopted Decision 2014/119/CFSP which provides for the freezing of funds and economic resources for certain persons identified as responsible for the misappropriation of Ukrainian State Funds and persons responsible for the human rights violations in Ukraine, and natural and legal persons, entities or bodies associated with them, with a view to consolidating and supporting the rule of law and respect for human rights in Ukraine. Those persons, entities and bodies are listed in the Annex to that Decision.
On 17 March 2014, the Council adopted Decision 2014/145/CFSP which provides for travel restrictions and for the freezing of funds and economic resources of certain persons responsible for actions which undermine or threaten the territorial integrity, sovereignty and independence of Ukraine, including actions on the future status of any part of the territory which are contrary to the Ukrainian Constitution, and natural or legal persons, entities or bodies associated with them. Those natural or legal persons, entities and bodies are listed in the Annex to that Decision.
The European Union in Council Decision 2014/119/CFSP of 5th March, 2014 may be viewed in its entirety at the following URL:
http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2014:066:0026:0030:EN:PDF
The European Union in Council Decision 2014/145/CFSP of 17th March, 2014 may be viewed in its entirety at the following URL:
http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2014:078:0016:0021:EN:PDF
The Ukraine (Sanctions) (Overseas Territories) Order 2014 [U.K.S.I. 2014 No. 497] may be viewed in its entirety at the following URL:
http://www.legislation.gov.uk/cy/uksi/2014/497/made
