Jersey

Jersey introduces finance sanctions against Libyans

Jersey has issued financial sanctions against individuals in Libya and Egypt.

The Chief Minister, Senator Terry Le Sueur, said they were in line with European Union regulations.

The measures are against individuals connected to Colonel Gaddafi's regime in Libya and the former Mubarak regime in Egypt.

They require funds and economic resources of such people, all originally identified by the European Union, to be frozen.

All companies, groups and individuals are being asked to carry out checks and pass any related information to the Chief Minister's department.

Director of International and Policy, Andrew Le Brun, from the Jersey Financial Services Commission, said: "We're asking institutions to check if they hold any funds or economic resources for designated persons, to freeze any such funds or economic resources and to report any findings to the Chief Minister's Department."

Information relevant to the sanctions would then be shared with other agencies in the island including the Jersey Financial Services Commission, the joint financial crimes unit of the States of Jersey Police as well as customs and immigration.

Mr Le Brun said: "All sanctions apply to individuals resident in the island. It is to make sure businesses are doing checks to identify if they are providing financial services to designated individuals."

Mr Le Brun said that if the information had to be shared outside of the island a decision would be taken on a case-by-case basis.

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