Jersey sanctions on the Russian diamond trade
03/05/2024
On 1 March 2024, the UK and Jersey Governments updated their Russia sanctions regulations and orders.
The Amendment Regulations include:-
- Create new trade prohibitions relating to the import of certain diamonds which originate in Russia and are processed in a third country and
- Ban the provision of technical assistance, brokering and financial services in connection with the import of third country processed Russian diamonds. Third country processing can be a means of concealing the Russian origin of diamonds, and this measure is targeted at reducing circumvention of sanctions on Russian diamonds.
To bring about the above
- The UK Government has updated its Russia sanctions regime through the Russia (Sanctions) (EU Exit) (Amendment) Regulations 2024 (the "Amendment Regulations")
- The Jersey Sanctions come into force on Friday 1 March 2024, under the Russia (Sanctions) (EU Exit) Regulations 2019 (the "Russia Regulations") and are effective through the Sanctions and Asset-Freezing (Implementation of External Sanctions) (Jersey) Order 2021 (the "Sanctions Implementation Order").
The Amendment Regulations build on The Russia (Sanctions) (EU Exit) (Amendment) (No. 5) Regulations 2023 which ban the direct import of Russian origin diamonds and diamond jewellery, and which came into effect on 1 January 2024.
Source
https://www.gov.je/gazette/pages/russiasanctionslegislationupdate01march2024.aspx
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.