On 15 October 2014, the official Legislation.gov.uk website posted SI 2014/2710 – The Russia, Crimea and Sevastopol (Sanctions) (Overseas Territories) Order 2014, which gives effect in specified Overseas Territories (Anguilla, British Antarctic Territory, British Indian Ocean Territory, Cayman Islands, Falkland Islands, Montserrat, Pitcairn, Henderson, Ducie and Oeno Islands, St Helena, Ascension and Tristan da Cunha, South Georgia and the South Sandwich Islands, The Sovereign Base Areas of Akrotiri and Dhekelia in the Island of Cyprus, Turks and Caicos Islands, Virgin Islands) to sanctions imposed on Crimea, Sevastopol and Russia by EU Council Decision 2014/386/CFSP of 23 June 2014 (as amended by EU Council Decision 2014/507/CFSP of 30 July 2014) and EU Council Decision 2014/512/CFSP of 31 July 2014 (as amended by EU Council Decision 2014/659/CFSP of 8 September 2014).
The sanctions imposed include—
- a ban on the import of goods originating in Crimea or Sevastopol; • a ban on financing such imports;
- a prohibition on certain investment activities in Crimea and Sevastopol and Russia;
- a ban on the supply to Crimea and Sevastopol of equipment and technology related to infrastructure development;
- the imposition of an arms embargo on Russia;
- a ban on the supply of dual-use equipment and technology to Russia;
- a ban on the supply of assistance related to military and dual-use goods;
- a ban on the transfer of oil exploration technologies to Russia; and
- a ban on the provision of services for oil exploration to Russia
The Order makes provision for the Governor to license certain activities in line with exemptions under the sanctions regime.
This update was first published on www.internationaltradecomplianceupdate.com.