On 8 April 2022, the Government of the Cayman Islands announced the establishment of a joint task force to coordinate, identify, and apply policy amendments to implement the Russia Sanctions. The United Kingdom’s sanctions on Russia impact the work of multiple agencies throughout the Cayman Islands Government.
The primary purpose of the task force is to provide centralised discussions and decisions around policy and communications arising from the ongoing sanctions.
Representatives from the following agencies comprise the task force: the Office of the Governor, the Ministry of Financial Services and Commerce, the Cayman Islands Monetary Authority, the Financial Reporting Authority, the Civil Aviation Authority of the Cayman Islands, the Maritime Authority of the Cayman Islands, the General Registry of the Cayman Islands, the Land Registry of the Cayman Islands, the Cayman Islands Customs and Border Control, the Cayman Islands Bureau of Financial Investigations and the Cabinet Office.
The task force meets on a weekly basis to review development and determine actions that need to be taken by each agency, both locally and internationally.
The press release can be found here.