Bahamas sanctions Russian finances

People retrieve belongings from an apartment in a block which was destroyed by an artillery strike in Kyiv, Ukraine, Monday. Russia's military forces kept up their punishing campaign to capture Ukraine's capital with fighting and artillery fire in Kyiv's suburbs Monday after an airstrike on a military base near the Polish border brought the war dangerously close to NATO's doorstep. (AP Photo/Vadim Ghirda)

People retrieve belongings from an apartment in a block which was destroyed by an artillery strike in Kyiv, Ukraine, Monday. Russia's military forces kept up their punishing campaign to capture Ukraine's capital with fighting and artillery fire in Kyiv's suburbs Monday after an airstrike on a military base near the Polish border brought the war dangerously close to NATO's doorstep. (AP Photo/Vadim Ghirda)

OVER the weekend, The Bahamas announced economic sanctions on financial resources of the Russian Federation and those of certain entities and individuals linked to the Federation and Belarus.

A notice from financial services regulators said: “After consultation with the government of The Bahamas and with due consideration to interests of this jurisdiction and the financial services sector operator within it, the agencies comprising the Group of Financial Services Regulators (GFSR) hereby direct regulated entities that are licensed or authorised to operate from or within The Bahamas not to engage in transactions with sanctioned persons, entities or businesses linked to Russia and Belarus.

 “Regulated entities should apply the highest level of risk management controls to deter the potential for any misuse of the Bahamian financial system in the current global environments and indeed every circumstance.

 “For the purposes of this directive, sanctions include those issued by the United States, Canada, United Kingdom, the European Union and other jurisdictions, which the GFSR may specify from time to time.”

 The GFSR includes the Central Bank of The Bahamas, Securities Commission of The Bahamas, Insurance Commission of The Bahamas, Compliance Commission of The Bahamas and the Gaming Board.

 The United States, the European Union, the United Kingdom, Canada and a number of other countries have sanctioned Russia for its unprovoked invasion of Ukraine.

 Earlier this month, Prime Minister Philip “Brave” Davis said CARICOM was awaiting a decision from the United Nations Security Council before taking a position on whether member states should impose sanctions on Russia.

 On Friday, British High Commissioner to Nassau Sarah Dickson said the world has to pull together in a united effort against Vladimir Putin’s attempts to escalate the fighting in Ukraine.

 “The images of the terrible destruction and civilian loss of life due to the indiscriminate bombing by the Russian military are impactful and distressing,” she said in a letter to the editor.

 “That is why the UK and The Bahamas co-sponsored a UN resolution demanding that Russia ‘immediately, completely and unconditionally withdraw all of its military forces from the territory of Ukraine.’ The resolution received overwhelming support with 141 countries from across the globe voting in favour.

 “I have heard of some sympathy for Russia and the economic harm that will be a consequence of their invasion. I have read of people’s fears that if The Bahamas speaks up the country will be the victims of retribution. I have seen concerns about the value of The Bahamas objecting to Russian actions as irrelevant or inconsequential. This couldn’t be further from the truth.

 “Opposing this war is the right thing to do. Standing up to a bully with one strong supportive voice is the right thing to do. That is why the vast majority of the UN’s members deplored ‘in the strongest terms the use of aggression by the Russian Federation’. Only by the world pulling together in this way do we have hope for the conflict to end. We have to calmly and in a unified way push back on president Putin’s attempts to escalate the fighting and create fear with threats of nuclear weapons readiness. All the world’s voices and actions will count in global efforts to end this madness,” Ms Dickson said.

 “A further reason to speak up is because the Russian government is lying to its people. It shuts down media outlets, blocks websites and harasses journalists that are reporting events. It has lied about the threat from Ukraine and is now lying about its barbaric actions in Ukraine, where civilians are targets for military action. The information flow from those of us that have independent, professional media analysing events is crucial.”

 She said the UK has chosen to take rapid action to try and stop the war through pressure on Mr Putin and support for the people of Ukraine.

 “Prime Minister Boris Johnson has set this out in a six-point plan. This plan includes humanitarian and defence support for Ukraine, as well as economic pressure on Russia. It promotes the diplomatic and multilateral work that will be needed to ensure that solutions are found to restore Ukraine’s freedom and sovereignty. No one expects this to be easy but we have to keep up the pressure so Putin ceases trying to redraw the borders of a sovereign, democratic nation in blood,” Ms Dickson said.


Proguing 1 year, 2 months ago

No surprises here. Another “sovereign” decision taken by the Bahamas, and as the FNM would say for the good of “humanity”….

Now Russians are moving all their assets to Dubai, Singapore and Hong Kong as it has been reported by Reuters:



Lil242 1 year, 2 months ago

Our 3rd world politicians really think the US cares about a colored nation a few miles off it shores. The only country the US cares about is itself when the US invades another sovereign nation again I hope the Bahamas governemnt an the world don't turn a blind eye an put sanctions on the US, all wars should be condemned past,present an future all have the same consequences. This country should have stayed neutral, but our government decided to be the American puppets. The US is only interested it's world order an hegemony and will use her media and mighty dollar to bring down and demonize any nation that doesn't follow its orders or nation it can't control. Let them keep picking fights with the Dragon an the Bear, no country can win a nuclear war, there won't be a world afterwards. When its time for the US to try bully China again like it does to the whole world an puts more sanctions on China again I want see what our ignorant corrupt government will do then. We should have put a mule from one of those farms on Long Island in the house of assembly to run this country we would have been better off. No amount of power or money can defeat history or time great nations come an go just like everything else in life.


tribanon 1 year, 2 months ago

We should have dumped Xi Jinping's corrupt wealthy friends into the same bucket as Vladimir Putin's corrupt wealthy friends. An ever increasing number of us are beginning to realise all of this nonsense is more for show and distraction than anything else.

The more important story is Mitch McConnell and the 17 Republican Senators who voted in favour of the pork loaded $1.5 trillion spending bill that recently went to Biden's desk to be signed into law. The massive bill (over 1800 pages) was distributed to U.S. congressmen only a couple hours before being stealthily passed by House and Senate votes held after 1:00 a.m. in the wee hours of the morning. Passage of this massive spending bill on top of the earlier ones is best kind of gasoline to poor on what was already a roaring inflation fire. LOL


tribanon 1 year, 2 months ago

Last sentence should read: "Passage of this massive spending bill on top of the earlier ones is the best kind of gasoline to pour on what was already a roaring inflation fire."

And here's a list of the 17 Republican Senators (according to CNN) who love plenty of wasteful pork spending on special interest projects and simply could not care any less about the effects of soaring inflation on our lives:

Roy Blunt of Missouri

Richard Burr of North Carolina

Shelley Moore Capito of West Virginia

Bill Cassidy of Louisiana

Susan Collins of Maine

Kevin Cramer of North Dakota

Mike Crapo of Idaho

Lindsey Graham of South Carolina

Chuck Grassley of Iowa

John Hoeven of North Dakota

Mitch McConnell of Kentucky

Lisa Murkowski of Alaska

Rob Portman of Ohio

Jim Risch of Idaho

Mitt Romney of Utah

Thom Tillis of North Carolina

Todd Young of Indiana

Many of the 17 named above have close ties to Red China, as does of course the entire Biden family.


Proguing 1 year, 2 months ago

Well I can tell you that these sanctions probably mark the end of Chinese investments in the Bahamas. And from now on they will be looking at selling every asset they have. They don’t want to be in the same situation as the Russian Oligarchs when China invades Taiwan.


tribanon 1 year, 2 months ago

We can only wish they high tail it from our country. Would be nice if when they leave they take with them Vomit Christie, Bag Man Bethel and the Wicked Witch of the West Maynard-Gibson.


ted4bz 1 year, 2 months ago

Some strategy! If small leaderships were not leading us down the valleys of the shadows of death and destruction then the “X’s” of small nations would be at least a crack in Russia’s glass ceiling, not a chance, it does not come close. Or, since the US and the EU combined failed to stop Russia from functioning or to make it crash at will by pushing it out of some 6000 global organizations, then, those small insignificant, heavily dependent, and controlled nations will render even less effect. Western small satellites states are not even a blimp on Russia’s radar.

Now to a little history. Strategically Russia have always out witted the US and its western partners, single handedly (see WW2 and events before). Russia have already exited the confines of western dictatorship and control, not many nations can do this and go on existing day after day. It will not be the first nor second time that the RUS, these Eastern Slavic people are starting over, there is a long history of these people starting over and beginning again from nothing, on their own. The west intentions to sanction a nation that has already planned to leave western organizations to construct its own means the west is sanctioning (downgrading) itself and so are all nations bundling into a corner of a cornered empire. “Those who don't know history are destined to repeat it.” It is obvious this applies to today’s western leaderships and all poodle nations following it.


Proguing 1 year, 2 months ago

Breaking news: "India may take up a Russian offer to buy crude oil and other commodities at a discount, two Indian officials said, in a sign that Delhi wants to keep its key trading partner on board despite Western attempts to isolate Moscow through sanctions."


I hope that everyone understands that because of sanctions, the West will be paying a big premium for oil and other commodities compared to the rest of the world. And that's supposed to hurt Putin according to Biden.


tribanon 1 year, 2 months ago

The outrageous oil, natural gas and gasoline prices have has less to do with Russia sanctions and much more to do with big 'New Green Deal' investments made by Barak Hussein Obama, John Kerry, Bernie Sanders and others who are working feverishly behind the scenes to keep the U.S. from producing and selling much more of its own oil and natural gas.


TalRussell 1 year, 2 months ago

My sister has owned and raised a family on her Private Island since the 1970's, having constructed a fully serviced dock and landing strip, along with residences and several buildings.
Over the years she has turned down three high dollar value offers from certain entities and individuals with obvious deep pockets links to the Russian Federation, with one clearly stated he had plans in place to turn Island into a "Principality," ― Yes?


carltonr61 1 year, 2 months ago

The war for Ukraine is the ending of the second world War. Unless you know old script for Russia designed by Zbigniew Brzezinski 73 years ago you will never understand this war. In the America's we have English, French/Haitian, Dutch, Portuguese and Spanish national languages. Africa is divided along other people's nationalities the same. Russia happens to be the second richest landmass outside of Africa with every conceivable mineral deposits in abundance with much of its territory untouched. The Brzezinski Doctrine for the division then plunder of The Russian Federation has taken this long to train up the dominoes of military, political and economic powers to subdue her. There has been only one united goal for 73 years, but the script, though kept alive is worn, moldy and guarded by skeletons in uniform awaiting this day of victory as a career. The Western Industrialized world thought they had the Bear on a plate belly up armed with industrialized forks and knives to enrich their own nations as they have carved up Africa into resource zones called nations. Just think of Ukraine as Russia's soft belly, then maybe you will understand the anger of the Western World. The last unconquered territory.


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