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Jersey Chamber of Commerce

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Category: Local Business News  States of Jersey

New sanctions regime to freeze assets linked to human rights violations

Jul 07, 2020

Jersey has joined the UK in introducing a new sanctions regime which ensures that funds or assets held in Jersey linked to gross human rights violations will be frozen.

The Minister for External Relations, Senator Ian Gorst, made the Order yesterday after the UK Foreign Secretary announced last week that the UK would implement the Global Human Rights Sanctions Regulations 2020 on Monday, enabling the UK to designate individuals and entities linked to gross human rights violations for an asset freeze. The UK published the first designations under these Regulations yesterday.

Senator Gorst made the Sanctions and Asset-Freezing (UK Human Rights Designations) (Jersey) Order 2020 under the Sanctions and Asset-Freezing (Jersey) Law 2019, which comes into force today. It means that designations made by the UK under the Regulations will be effective immediately in Jersey, similar to how UK terrorist asset-freeze designations have been implemented for many years.

Senator Gorst said: “Jersey is a responsible and robustly regulated international finance centre that has a positive track record of helping to enforce the will of the international community. It is, therefore, important that Jersey plays its part in the global fight against the abuse of human rights.

“Jersey already implements all UN and EU sanctions against countries, regimes or individuals believed to be violating international law, including human rights abuses. We actively monitor international sanctions developments and take appropriate measures to ensure Jersey’s response remains proportionate and in line with agreed global best practice.”

Government of Jersey News Release.

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