Around a year later, well over 200 sanctions compliance reports had been submitted to Deputy Gorst in connection with the regime, in line with the reporting obligations of financial institutions.
At that stage, more than £1.3 billion worth of assets linked to Russian individuals and companies had been frozen in the island.
In his latest update, Deputy Ian Gorst confirmed that, as of 30 April, the reported frozen assets now totalled nearly £1.4bn.
Rounded to the nearest £100,000, the total was £1,384,800,000, he said.
And the number of sanctions reports has also grown significantly, with 365 now having been submitted in connection with the regime.
Pictured: External Relations Minister Ian Gorst has, as of 30 April, had more than £1.384bn in frozen assets reported to him under the regime.
According to Deputy Gorst’s update, the reports include “a number of issues relating to sanctions compliance”.
While the current total is more than £1.3bn, it is worth noting that there are an estimated £1.3 trillion-worth of assets under management in Jersey.
READ MORE…
Russian assets frozen by Jersey firms top £1bn
Jersey firms froze £700m in Russian assets in March
Jersey seizes ‘$7bn assets’ suspected to be linked to Abramovich
Abramovich yacht ‘moved to Jersey company on day of Ukraine invasion’
Police and regulator work to track down Russian wealth
Abramovich: Too “risky” for Switzerland… but not for Jersey?