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The Russia, Crimea and Sevastopol (Sanctions) (Overseas Territories) (Amendment) Order 2015 - Advisory Warning No. 10 of 2015 (16 December 2015)


Advisory Warning No. 10 of 2015

16 December 2015

ADVISORY WARNING

 

The Russia, Crimea and Sevastopol (Sanctions) (Overseas Territories) (Amendment) Order 2015

(U.K.S.I. 2015 No. 213)

 

The British Virgin Islands Financial Services Commission (the “FSC”) is advising the public that on 11th March 2015, The Russia, Crimea and Sevastopol (Sanctions) (Overseas Territories) (Amendment) Order 2015 (the “Order”) was ratified and extended to the Territory.

NOTICE IS HEREBY GIVEN that this Order has been extended to the Territory by virtue of Schedule 1 to The Russia, Crimea and Sevastopol (Sanctions) (Overseas Territories) Order 2015 (the “Principal order”).

AND NOTICE IS FURTHER GIVEN that this Order amends the Russia, Crimea and Sevastopol (Sanctions) (Overseas Territories) Order 2014 (S.I. 2014/2710 as amended by S.I. 2014/2919) (the “Principal Order”).

This Order gives effect in specified Overseas Territories to provisions specified in Council Decision 2014/872/CFSP of 4 December 2014, which amends certain restrictive measures imposed on Russia by Council Decision 2014/512/CFSP of 23 June 2014, as amended by EU Council Decision 2014/659/CFSP of 8 September 2014.

The measures against Russia which have been amended relate to the sale, supply, etc. of items listed in Annex II to Council Regulation (EU) No 833/2014 and related technical assistance, financial assistance and brokering services and to the provision of associated services for certain types of oil exploration and production projects. These changes are given effect through amendments to the prohibitions specified in articles 7, 8, 8A, 9 and 11 of the Principal Order as well as the licensing provisions in article 13 of that Order.

In addition, this Order gives effect in specified Overseas Territories to further sanctions imposed on Crimea and Sevastopol by Council Decision 2014/933/CFSP of 18 December 2014, which amends Council Decision 2014/386/CFSP of 23 June 2014.

The new restrictive measures in relation to Crimea and Sevastopol include: a ban on all foreign investments and related investment services in Crimea or Sevastopol; a broadening of the former export and associated technical and financial assistance prohibitions, to cover goods and technology suited for use in the sectors of transport, telecommunications, energy, or the prospecting for, exploration and production of oil, gas and mineral resources; a ban on the provision of technical assistance, brokering, construction or engineering services relating to infrastructure in Crimea or Sevastopol in those sectors; and a ban on the provision of services directly related to tourism activities in Crimea or Sevastopol.

This Order gives effect to the additional sanctions on Crimea and Sevastopol by amending articles 5 and 6 and inserting new articles 6A and 6B to the Principal Order, as well as by making further provision for the Governor to license these activities in line with the exemptions under the Crimea and Sevastopol regime.

The European Union in Council Decision 2014/872 CFSP of 4th December, 2014 may be viewed in its entirety at the following URL:

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014D0872&rid=1

The European Union in Council Decision 2014/512 CFSP of 23rd June, 2014 may be viewed in its entirety at the following URL:

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014D0512&rid=1

The European Union in Council Decision 2014/659 CFSP of 8th September, 2014 may be viewed in its entirety at the following URL:

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014D0659&rid=1

The European Union Council Regulation (EU) No 833/2014 of 31st July, 2014 may be viewed in its entirety at the following URL:

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014R0833&rid=1

The European Union in Council Decision 2014/933 CFSP of 18th December, 2014 may be viewed in its entirety at the following URL:

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014D0933&rid=1

The European Union in Council Decision 2014/386 CFSP of 23 June, 2014 may be viewed in its entirety at the following URL:

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014D0386&rid=1

The Russia, Crimea and Sevastopol (Sanctions) (Overseas Territories) (Amendment) Order 2015 may be viewed in its entirety at the following URL:

http://www.legislation.gov.uk/uksi/2015/213/made

Additional Links of Interest:

Consolidated list of financial sanctions targets in the UK – this link updates automatically as new Orders are ratified and extended to the Overseas Territories:

http://hmt-sanctions.s3.amazonaws.com/sanctionsconlist.pdf

List of all Sanctions Orders still enforced and extended to the Overseas Territories: 

http://www.legislation.gov.uk/all?title=sanctions



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British Virgin Islands Financial Services Commission


Pasea Estate
P.O. Box 418
Road Town, Tortola, VG 1110
British Virgin Islands

Tel: 284-494-1324 or 284-494-4190 GMT – 4:00
Fax: 284-494-5016
Hours: Monday-Friday 8:30a.m. - 4:30p.m.
commissioner@bvifsc.vg