Tag: Russia
Russia sending warships to Caribbean for naval exercise
(CNS): Russia plans to send combat vessels into the Caribbean region this summer as part of naval exercises that will likely include port calls in Cuba and possibly stops in Venezuela, a senior US official said Wednesday, according to reports on Reuters. The United States said it didn’t see the move involving a relatively small […]
General Licence issued to protect fund investors
(CNS) The governor has issued the first General Licence under the Russia Sanctions Regime for the Cayman Islands, which officials said allows multiple parties to undertake specified activities that would otherwise be prohibited by the Modified Regulations. An industry expert told CNS that, subject to certain requirements, this licence allows relevant investment funds to redeem, […]
Cayman freezes US$8.7 billion in Russian assets
(CNS): Over US$8.4 billion and €297.8 million in assets have been frozen in the Cayman Islands since Russia sanctions were imposed at the beginning of March. The Financial Reporting Authority has received 801 Compliance Reporting Forms (CRFs) related to the sanctions and 144 suspicious activity reports. This represents over US$1 billion more than initially reported […]
CIRC raises funds for humanitarian aid in Ukraine
(CNS): The Cayman Islands Red Cross (CIRC) raised US$131,000 for the Ukraine crisis during a focused appeal between 3 March and 10 April to support Ukrainians impacted by the intense fighting in that country. CIRC said that the funds raised are not subjected to administrative fees here or when transferred and that all the money […]
Cayman freezes US$7.3 billion of Russian assets
(CNS): Since the Russian invasion of Ukraine in February, more than 800 asset freeze designations of individuals and entities have been enforced in the Cayman Islands, officials said in a release about the creation of a task force to coordinate the new sanctions regime.
Fuel suppliers can’t hike prices on speculation
(CNS): The Utility Regulation and Competition Office (OfReg) has said that local operators are not allowed to increase the price of fuel based on speculation about the current oil market resulting from the sanctions against Russia.
Key CIG agencies monitoring Russia sanctions
(CNS): The Cayman Islands Government says that key agencies have been actively monitoring their respective books of business for any possible connections with individuals, companies and other entities that are subject to the Russia sanctions. These entities include the Maritime Authority of the Cayman Islands (MACI), General Registry, Civil Aviation Authority (CAA), Lands & Survey […]
Ukraine crisis fundraiser racks up cash at Rackham’s
(CNS): Rackam’s bar was jam-packed Sunday night for a fundraising event to support the people of Ukraine, who are fighting to survive and fighting to defend their homeland from the invading Russian army. Through a raffle and an auction of prizes donated by local businesses, CI$28,500 was raised, which will go directly to the Ukraine […]
Cayman implements full sanctions against Russia
(CNS): The Cayman Islands is supporting the international effort to cut off funding for President Vladimir Putin’s war in Ukraine after the Russian army invaded the Eastern European country one week ago. In a statement about the situation, Governor Martyn Roper said this included banning aircraft owned or operated by anyone connected with Russia or […]
Authorities issue details on sanctioned Russians
(CNS): The Cayman Islands Monetary Authority and the Financial Reporting Authority have issued notices to the financial services sector. These are based on directions from the UK Treasury’s Office of Financial Sanctions Implementation and outline the latest sanctions imposed by the UK on individual wealthy Russian oligarchs.
Premier warns war in Ukraine will increase COL
(CNS): Premier Wayne Panton has warned that the cost of fuel will increase in Cayman, pushing up the already rising cost of living, as a result of Russia’s invasion of Ukraine. In a statement about today’s military action directed by Russian President Vladimir Putin, Panton said it would carry a “tremendous humanitarian cost” and war […]
