JERSEY - Financial Sanctions Notice: Forthcoming Sanctions Legislation 8 January 2021

A new Jersey sanctions Order will be made by the Minister for External Relations (the "Minister") under the Sanctions and Asset-Freezing (Jersey) Law 2019 (SAFL) in the week ending 29 January, to come into force two weeks later.

The draft Sanctions and Asset-Freezing (Implementation of UK Regulations) (Jersey) Order 202- (the “draft Order”) will:

• Implement all UK sanctions regulations made under the Sanctions and Anti-Money Laundering Act 2018 (SAMLA).
• Repeal the Sanctions and Asset-Freezing (Implementation of EU Regulations) (Jersey) Order 2020.
• Repeal the Sanctions and Asset-Freezing (UK Human Rights Designations) (Jersey) Order 2020 and incorporate its effects.
• Repeal the Sanctions and Asset-Freezing (Designation of Lugovoy and Kovtun) (Jersey) Order 2020 and incorporate its effects.

You can view all the UK sanctions regimes made under SAMLA, including the relevant regulations and guidance that have been published by the Office of Financial Sanctions Implementation (OFSI) on:-

The current list of UK asset-freeze targets has been published by OFSI on

• https://www.gov.uk/government/publications/financial-sanctions-consolidated-list-of-targets/consolidated-list-of-targets

You can also view the OFSI Financial Sanctions Notice on changes to the Consolidated List.

• https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/949055/Notice_Consolidated_List_Changes__31_December_2020.pdf

The new UK sanctions regulations have been drafted to have substantially the same policy effect as the EU restrictive measures regulations. However, though initially, the regimes will be mainly the same, there are some differences - including

• changes to those persons and entities subject to an asset-freeze - and
• it is possible that there will be increasing divergence over time.

These are the regimes that will be implemented under SAFL by the draft Order.

What will change in Jersey

• Jersey currently implements all UN and EU sanctions through SAFL and the Sanctions and Asset-Freezing (Implementation of EU Regulations (Jersey) Order 2020.
• Following the coming into force of the draft Order, Jersey will no longer implement EU sanctions, and all UN and UK sanctions will be implemented by SAFL and the draft Order.
• All UN, UK, and EU terrorist asset-freezing designations will continue to be implemented in Jersey. However, there will be a further legislative change later this year following which EU terrorist asset-freezing designations will no longer be implemented.

Updated Guidance

The External Relations sanctions guidance on gov.je will be updated once the new Order comes into force and we will also be working with the JFSC to update its sanctions guidance.

1. JERSEY GOV = https://www.gov.je/Government/Departments/JerseyWorld/Pages/SanctionsFAQ.aspx
2. JFSC = https://www.jerseyfsc.org/industry/international-co-operation/sanctions/

A further Financial Sanctions Notice will be published on the Jersey Gazette once the draft Order has been made. There will then be two weeks until the new Order comes into force.

Date published 08 January 2021 - Implementation of UK Sanctions

• https://www.gov.je/gazette/pages/financialsanctionsnoticenewsanctionslegislation8jan2021.aspx