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Virgin Islands Issues New Sanctions Licenses and Reminders

The Governor’s Office has issued several new sanctions licenses and reminders in accordance with the Russia (Sanctions) (EU Exit) Regulations 2019 and the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019.

General Licence [No. 2] 2023: Wind Down of Trust Services Provided by Designated Persons

The Governor’s Office has issued a General Reminder regarding General Licence [No. 2] 2023, which was granted under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019 as extended to the Virgin Islands with modifications by the Russia (Sanctions) (Overseas Territories) Order 2020.

  • The General Reminder can be found here.

General Licence [No. 4] 2023: Maintenance of Economic Resources

The Governor’s Office has also issued General Licence [No. 4] 2023, which was granted under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019 as extended to the Virgin Islands with modifications by the Russia (Sanctions) (Overseas Territories) Order 2020.

  • The General Licence can be found here.
  • Publication Notice: here
  • Reporting Form: here

The Governor’s Office has issued a General Reminder regarding General Licence [No. 3] 2023, which was granted under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019, as amended, as modified by paragraph 38 of the Russian (Sanctions)(Overseas Territories) Order 2020, as amended, and Regulation 34 of the Republic of Belarus (Sanctions)(EU Exit) Regulations 2019 as modified by paragraph 19 of the Republic of Belarus (Sanctions)(Overseas Territories) Order 2020.

  • The General Reminder can be found here.

The Governor’s Office has also issued General Licence [No. 5] 2023, which was granted under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019, as amended, and Regulation 32 of the Republic of Belarus (Sanctions)(EU Exit) Regulations 2019, as amended.

  • The General Licence can be found here.
  • Publication Notice: here

Red Alert on Exporting High Risk Goods

HM Treasury’s Office of Financial Sanctions Implementation has issued a Red Alert on Exporting High Risk Goods, which can be found here.

Amendment to the Russia (Sanctions) (Overseas Territories) Order 2020

On March 14th, 2024, the Russia (Sanctions) (Overseas Territories) (Amendment) Order 2024 SI 2024 No. 370 came into force in the Virgin Islands. A Notice issued by the Governor’s Office can be found here.

On June 4th, 2024, the Governor’s Office issued General Licence [No. 6] 2024, which was granted under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019, as amended, and Regulation 32 of the Republic of Belarus (Sanctions)(EU Exit) Regulations 2019, as amended.

  • The General Licence can be found here.
  • Publication Notice: here

Reporting Requirement

Those who use the General Licence must report in writing to the Governor, preferably by email, to [email@address]. Reporting forms for the Pre-Designation and Post-Designation Legal Fees General Licence can be found through the hyperlinks above.