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Sanctions Notice – Venezuela Sanctions | Guernsey Financial Services Commission

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Please be advised that the EU Council has imposed an asset freeze and travel ban against 11 Venezuelan officials determined to be responsible for serious violations of human rights and restrictions on fundamental freedoms, such as freedom of press and speech, under Council Implementing Regulation (EU) 2020/897 which implements Council Regulation (EU) 2017/2063. The EU Regulation is implemented in Guernsey by the Venezuela (Restrictive Measures) (Guernsey) Ordinance, 2017.

The eleven designated individuals are: José Adelino Ornelas Ferreira (Secretary General of the National Defence Council), Gladys del Valle Requena (Second VP of the National Constituent Assembly), Tania Valentina Diaz González (First VP of the National Constituent Assembly), Elvis Eduardo Hidrobo Amoros (Comptroller General), Juan José Mendoza Jover (Second VP of the Venezuela Supreme Court), Jorge Elieser Marquez Monsalve (Director General of National Commission of Telecommunications), Farik Karin Mora Salcedo and Dinorah Yoselin Bustamante Puerta (Prosecutors at First Special Court of First Instance), Luis Eduardo Parra Rivero (President of National Assembly), Franklyn Leonardo Duarte (VP of National Assembly), and José Gregorio Noriega Figueroa (Second VP of National Assembly).

MEASURES WHICH SHOULD BE TAKEN

All businesses must check whether they maintain any accounts or otherwise have any kind of relationship with the persons referred to above or to any other natural or legal person, entity or body designated under the legislation referred to above and must treat any funds, other assets or economic resources

  • directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or
  • derived from any funds or economic resources directly or indirectly belonging to, owned, held or controlled by them, whether wholly or jointly, or
  • belonging to individuals or entities acting on their behalf or at their direction, whether wholly or jointly

as frozen with immediate effect if this is not already the case. Businesses must report any findings to the Policy & Resources Committee immediately. They must also ensure that they have taken all other steps that may be required in order to comply with the reporting obligations at section 14 of the Sanctions Law.

Businesses must also refrain from making any funds or economic resources available directly or indirectly, wholly or jointly, to or for the benefit of

  • any designated person, entity or body
  • any entity directly or indirectly owned or controlled by a designated person, entity or body, whether wholly or jointly
  • any individuals or entities acting on behalf or at the direction of a designated person, entity or body, whether wholly or jointly

other than in respect of transactions that come within a permitted derogation as determined by the Policy & Resources Committee, or in accordance with a licence issued by the Policy & Resources Committee, as the case may be.

The information referred to above is required by the Policy & Resources Committee in the exercise of its powers under section 15 of the Sanctions Law and under the Schedule to the Ordinance listed above.

Any information or queries should be sent to [email protected] with the subject line “Venezuela Sanctions”.

Further information on the effect of asset freezes and related issues including licences is available on the States of Guernsey website at http://www.gov.gg/sanctions

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