Caystone’s Statement on Sanctions arising from Russia-Ukraine Conflict
Dear Clients – As you are aware the Global response to the Russia and Ukraine conflict continues to evolve, including the imposition of increasing sanctions and other restrictive measures.
In step with other international sanctions programs, on March 12th, 2022, The Bahamas officially issued directives prohibiting transactions and other activities relating to the financial resources of the Russian Federation and those of certain entities and individuals linked to the Russian Federation.
As your industry partner, we take this opportunity to remind you that no transactions should be processed for sanctioned individuals or entities. Further, any activities or attempts to evade or avoid the directives are also prohibited.
Caystone Solutions Ltd., and its affiliates, will continue to undertake all possible preventative measures and will not knowingly execute, or be involved in, any transactions which benefit a sanctioned person. These measures include, but are not limited to, screening transactions, transaction beneficiaries, correspondent banks, existing and prospective customers against sanctions lists to determine whether any connections to Russia or Belarus exist.
To enable your ongoing vigilance with respect to these matters we provide a link below to the site of the regulator and also to our website. Our website will be updated with all relevant changes. For convenient reference a copy of the International Obligations (Economic and Ancillary Measures) Directives issued by the Attorney General of The Bahamas on March 12, 2022, has been attached. Also please see below links to recent sanctions imposed by various jurisdictions:
We remain at your disposal should you have any queries regarding the information above. We thank you for your cooperation and attention to the directives. Please do not hesitate to contact us should you have any queries regarding the above or if you wish to discuss further.
Caystone Solutions Ltd.