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Guernsey has joined other Crown Dependencies on Russia’s list of "unfriendly" states and territories for imposing economic sanctions in response to its invasion of Ukraine.
The island first announced in February that it was widening sanctions against Russian banks and billionaires close to the country's President, Vladimir Putin, after he launched war against its neighbour to the west.
Now Russia has retaliated by imposing its own sanctions and adding Guernsey - along with the Isle of Man and the Bahamas - to a list of places it considers undesirable for supporting "sanctions imposed by the United Kingdom against Russia, Russian citizens and companies".
Others previously placed on its various lists of undesirables include the UK, the United States and Jersey.
Clearly little Guernsey’s sanctions are beginning to bite… https://t.co/VjpBVRfRC4
— Jonathan Le Tocq ???????? (@letocq) July 24, 2022
Pictured: Guernsey’s external relations lead, Deputy Jonathan Le Tocq, tweeted this reaction to the listing.
The Policy & Resources said the Bailiwick would continue "to stand by the people of Ukraine" and remain "in lockstep" with the UK's sanctions against Russia.
The Committee said yesterday that Russian assets frozen "remain very small and the media release issued on 13 May continues to be an accurate reflection of money frozen in Guernsey bank accounts".
The States of Jersey produce monthly updates on Russian assets frozen under their sanctions regime. They have so far frozen funds totalling £1,070,600,000 – over one billion pounds - around 200 times more than Guernsey.
"The Russia sanctions regime continues to evolve and information continues to be investigated as it is received," said the Policy & Resources Committee.
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