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VI freezes estimated US $400M in assets linked to Russia

-As part of action to ensure Int’l compliance with UK imposed sanctions
May 14th, 2022 | Tags: Russia sanctions BVI FSC UK government
The [British] Virgin Islands has begun taking all requisite steps to ensure that it adheres to its international obligations as an Overseas Territory of the United Kingdom relating to sanctions against Russia. Photo: VINO/File
Governor John J. Rankin CMG, whose office is the Competent Authority for sanctions in the BVI has said welcomes early moves by the territory against Russia. Photo: Facebook
Governor John J. Rankin CMG, whose office is the Competent Authority for sanctions in the BVI has said welcomes early moves by the territory against Russia. Photo: Facebook
PASEA ESTATE, Tortola, VI - The [British] Virgin Islands has begun taking all requisite steps to ensure that it adheres to its international obligations as an Overseas Territory of the United Kingdom relating to sanctions against Russia.

This is according to a release from the Government Information Service (GIS) which noted that the Territory is also complying with all sanctions issued by the United Kingdom that are extended to it by way of the relevant Overseas Territories Sanctions Orders in Council.

The release added, “Additionally, the BVI actively monitors the UK Sanctions listings published by the Foreign, Commonwealth and Development Office (FCDO), as well as the UK’s Office of Financial Sanctions Implementation (OFSI), with the Financial Services Commission (FSC) and the Financial Investigation Agency (FIA) ensuring the timely dissemination of sanctions updates to its financial services providers, designated non-financial businesses and professions and non-profit organisations.”

It said when any requests for international cooperation are received, the territory stands ready to execute.

This includes the sharing of beneficial ownership information with overseas law enforcement, under the Exchange of Notes with the United Kingdom Government under which information can be exchanged in as little as 1 hour in urgent cases.

Estimated $400M in assets frozen 

“Since the Russian invasion of Ukraine in February 2022, the Governor’s Office, as the Competent Authority for sanctions in the BVI, has received confirmation that assets with an estimated value of more than US$ 400,000,000 have been frozen to date. These actions have been taken in compliance with freezing obligations under The Russia (Sanctions) (Overseas Territories) Order 2020,” the release noted.

Governor John Rankin CMG, whose office is the Competent Authority for sanctions in the BVI has said “I welcome early steps taken by the British Virgin Islands, to ensure it meets the sanctions requirements in response to Russia's unprovoked, premeditated and unjustified invasion of Ukraine.”

He further added,“ The Governor’s Office, along with FCDO and OFSI, continues to support and work together with the FSC, FIA, and other relevant agencies and Competent Authorities in implementing these wide-ranging sanctions measures and meeting international obligations.”

14 Responses to “VI freezes estimated US $400M in assets linked to Russia”

  • My girl (14/05/2022, 14:43) Like (4) Dislike (1) Reply
    But they are not working with the bvi
  • Lord have mercy (14/05/2022, 15:25) Like (22) Dislike (6) Reply
    So, we embrace Britain when it's beneficial and convenient for us. Sadly, that's not how life works,,. That's the BVI culture, to use others to their benefit, and to distance them when they can't use them or get their way. Fortunately, Britain is still incharge.
    • fromafar (15/05/2022, 06:56) Like (4) Dislike (3) Reply
      how many years have we been used and abused? you need a ticket to LONDON its on me let me know , its only one way though.
  • oh (14/05/2022, 16:09) Like (7) Dislike (0) Reply
    Ayo want to be in thing
  • King of the Hill (14/05/2022, 17:33) Like (25) Dislike (2) Reply
    So, will they freeze the accounts of locals who are also drug dealers?
    • @ king of the hill (15/05/2022, 07:34) Like (1) Dislike (2) Reply
      Soon as they do the same for governors and police commissioners
  • Really (14/05/2022, 17:37) Like (12) Dislike (3) Reply
    It's one world government from the beginning of time. Rothschild family bloodline owns everything and everyone. You all Vaccinated they definitely own you all with your no human rights act that Biden signed in 2017
    • Drinking water (15/05/2022, 07:50) Like (3) Dislike (2) Reply
      It's so true , and is about time we understand whats going on ,,and take our heads out of the sand we are not no damn ostrich and stop perishing for lack of knowledge
  • bbc (14/05/2022, 19:30) Like (5) Dislike (4) Reply
    now you see why the British wants to return
  • Ranks (14/05/2022, 19:30) Like (9) Dislike (5) Reply
    We all know that the Cabal had Russia in their sights for quite a while. To say the Ukraine operation was unprovoked is not true. Nato was courting Ukraine with the aim of putting nukes on Russia's doorstep. Just like it was unacceptable in 1962 for Cuba to have nukes so it was for Ukraine but NATO continued to push and Putin was forced to respond. The war could be over tomorrow if Russia is given the proper assurance. By pouring heavier weapons into Ukraine the chances of a wider confrontation is being increased. Players like North Korea, Iran and China could find opportunity to make their move. The stage is being set for possible nuclear confrontation and this would be horrific for the masses on this planet. If this is what you support it does not auger well for the local situation.
  • Silly people (14/05/2022, 19:59) Like (7) Dislike (3) Reply
    What is wrong with you guys? If you do not understand what's going on, why are you being involved? You are shooting yourself in the foot! REMOVE THOSE SANCTIONS. STOP BEING STUPID. STOP FOLLOWING THE GOVERNOR, THINK FOR YOURSELF
  • political strategy (14/05/2022, 20:24) Like (1) Dislike (0) Reply
    Uk just want to get their hands on money and they will probable cause and come back to road town
  • Brakes (15/05/2022, 10:32) Like (8) Dislike (0) Reply
    Mind y'all make these people drop a bomb on we.
  • life (15/05/2022, 11:55) Like (3) Dislike (0) Reply

    Putin is already threatening the u.k why they want to rope us in them sh**



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