Sanctions Notice for Viatcheslav Kantor Updated
Summary
The Guernsey Financial Services Commission (GFSC) has updated its sanctions notice regarding Viatcheslav Kantor, designated under UK sanctions related to Russia. Businesses must immediately check for relationships with the designated individual and freeze any associated assets, reporting findings to the Policy & Resources Committee and the GFSC.
What changed
This notice from the Guernsey Financial Services Commission (GFSC) announces variations to the sanctions designation for Viatcheslav Kantor (Unique ID: RUS1127) under The Russia (Sanctions) (EU Exit) Regulations 2019, as given effect in Guernsey. The individual remains subject to an asset freeze, trust services sanctions, and director disqualification, appearing on the UK sanctions list. Businesses operating in Guernsey must immediately verify if they have any accounts or relationships with Kantor or other designated persons and freeze any associated funds or economic resources, reporting findings to the Policy & Resources Committee and the GFSC.
Regulated entities are required to treat all funds, assets, or economic resources belonging to, owned, held, or controlled by designated persons (directly or indirectly, wholly or jointly) as frozen. This includes funds derived from such assets and resources belonging to individuals or entities acting on their behalf. Businesses must report any findings to the Policy & Resources Committee immediately and ensure compliance with reporting obligations under section 14 of the Sanctions Law. Furthermore, they must refrain from making funds or economic resources available to designated persons or entities controlled by them, except under permitted derogations or licenses. Firms must also report affected relationships to the GFSC, providing details on the nature of the sanction connection and actions taken, as per Handbook Rule 12.37.
What to do next
- Check for accounts or relationships with Viatcheslav Kantor and other designated persons.
- Freeze any associated funds, assets, or economic resources immediately.
- Report any findings to the Policy & Resources Committee and the GFSC.
Penalties
Failure to comply with reporting obligations and asset freezes may result in penalties as defined under the Sanctions (Bailiwick of Guernsey) Law, 2018.
Source document (simplified)
News
Sanctions Notice - Russia
17th March 2026
- Sanctions
Please be advised that details in respect of the following individual:
- Viatcheslav KANTOR (Unique ID: RUS1127) which is designated under The Russia (Sanctions) (EU Exit) Regulations 2019, have been varied on the UK Sanctions List.
The above individual is still subject to an asset freeze, trust services sanctions, director disqualification sanction and a ppears on the UK sanctions list, which can be found here.
The UK regulations are given effect within the Bailiwick under the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations, 2020 that have been made under the Sanctions (Bailiwick of Guernsey) Law, 2018 (the Sanctions Law).
MEASURES WHICH SHOULD BE TAKEN
All businesses must check whether they maintain any accounts or otherwise have any kind of relationship with the individual 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
- that comprise interest, dividends or other forms of property derived from any funds or economic resources that belong to them or are owned, held or controlled by them, whether directly or indirectly and 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.
Any information or queries should be sent to [email protected] with the subject line “Russia Sanctions”.
Where you have identified an affected relationship as set out above, please also inform the Guernsey Financial Services Commission via email to [email protected] providing short form information on the nature of the sanction connection and the measures you have taken or intend to take.
Handbook Rule 12.37, requires that, where you have identified an affected relationship as set out above, the firm must provide a report to the Commission which sets out, as a minimum: a) the name of the customer, beneficial owner, key principal or the transaction and/or asset linked to a sanctioned/designated person; and b) the nature of the business relationship or occasional transaction, including the transaction and/or asset value.
This report should be provided to the Commission as soon as reasonably practicable after the firm has met the statutory reporting requirements to the States of Guernsey Policy and Resources Committee.
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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