Trump targets Jersey based companies in oligarch crackdown - report

12/04/2018 News Team

According to a report in the Jersey Evening Post, three Jersey-based companies "worth billions and controlled by a Russian oligarch" have had sanctions imposed on them by US authorities.

The Jersey Evening Post reported that, in reponse to the poisoning of former KGB agent Sergei Skripal in Salisbury in March, the US Treasury has penalised seven Russian oligarchs and 12 companies they control, and among them was Oleg Deripaska and three Jersey based companies he owns - Basic Element Ltd, EN+ Group and United Company Rusal Plc.

A US Treasury statement on 6 April referring to the imposition of the sanctions warned that "non-US persons could face sanctions for knowingly facilitating significant transactions for or on behalf of the individuals or entities blocked today."

The Jersey Evening Post reported that all three firms are shown in Jersey Company Registry filings to be registered at 44 Esplanade, the Jersey offices of trust and fiduciary services provider, Intertrust.

A spokesman for Intertrust told the newspaper that the firm runs "nightly checks on our clients and if we find any irregularities with existing clients we take appropriate measures and work with the authorities where necessary".

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