The Virgin Islands and United Kingdom governments have joined forces to combat illicit financing and uphold international sanctions through the establishment of the new Virgin Islands Sanctions Unit.
A Memorandum of Understanding signed Wednesday formalized the collaboration, with the Sanctions Unit set to transition from under the Governor’s Office to the leadership of the Attorney General’s Chambers over the next six months.
Attorney General Hon. Dawn J. Smith emphasized the VI’s dedication to participating in international sanctions promulgated or enforced by the UK.
Premier and Finance Minister Dr. Natalio D. Wheatley highlighted the Virgin Islands’ commitment, having frozen over $400 million in assets since the Ukraine invasion.
He expressed gratitude for over £500,000 in UK assistance facilitating the new Sanctions Unit.
His Excellency the Governor Daniel Pruce dubbed the agreement a great example of the Territory and the United Kingdom Government working together in a really intense collaborative way.
Pruce hailed the Sanctions Unit as playing a crucial role in addressing major global challenges like the Russian invasion of Ukraine and human rights abuses worldwide through effective sanction implementation.
