Caribbean stands firm with EU over imposing restrictions on Russia

Caribbean: Following the Russian military’s invasion of Ukraine, the United Nations General Assembly voted in favour to rebuke Russia by imposing several significant sanctions on the European country. This league has now also been joined by the Caribbean countries in solidarity with the Ukrainian population.

Condemning the invasion, the Caribbean countries pledged not to grant second citizenship to the Russian nationals. Barbados, Dominica, St Kitts and Nevis, Antigua and Barbuda, St Lucia, St Vincent and the Grenadines and St Lucia are the Caribbean states who voted in favour of the United Nations resolution against the Russian aggression.

Scott Furssedonn-Wood, the UK High Commissioner to Barbados & Eastern Caribbean, made the announcement while making an official tweet, which cites, “141 countries just voted in favour of this UN resolution against Russian aggression in #Ukraine”.

The Caribbean region has always stood with and esteemed the judgments of the European Union, and once again, the nations of the region have proved their stand with the EU commission.

Seeing the present scenario and amid security considerations, the governments of the aforementioned Caribbean nations took the action of temporarily ceasing the procedure of the ‘Citizenship by Investment Programme’ applications of Russian and Belarus nationals.

The statement of Antigua and Barbuda cites, “The rapidly evolving and deteriorating conditions and the ever-expanding list of Russian sanctions compel us to acknowledge that it has become increasingly challenging for us to operate in those jurisdictions. We have been advised by our due diligence providers that their ability to conduct investigations in Russia Belarus has been severely impacted.”

“Given these developments, our ability to ascertain the suitability of these applicants at this time is significantly restricted. Additionally, we have been aware that processing transactions originating from these territories have been severely constrained within the banking system”.

Meanwhile, CBIU of St Lucia informed that the Republic Bank (EC) Limited – RBEC notified Citizenship by Investment Unit that the bank will no longer facilitate any transfer of funds emanating from Russia by CIP Application, Agents or Promoters until further advised.

“RBEC has stated that this decision is in reply to the ongoing situation of unrest between Russia and Ukraine and the global response via various sanctions on Russia“.

The Commonwealth of Dominica, Barbados, St Kitts and Nevis has also halted the processing of the applications of second citizenship of Russian and Belarus citizens. Not only this, but leaders of these 5 Caribbean jurisdictions have also condemned the invasion act of Russia, adding that they stand firm with the people of Ukraine at such difficult times.

Grenadian authorities, speaking on the matter, asserted, “Grenada is anticipating increased demand for CBI applications from Russian nationals given the current crisis in Ukraine. All applications from Russian nationals will now undergo a second layer of due diligence, which will cause an additional delay in the processing of applications.”

For standing and showing their support, Head of Delegation of the European Union to Barbados and Eastern Caribbean – Ambassador Malgorzata Wasilewska, tweeted, “Its a privilege to serve the EU in the CARICOM region which stood so strongly against the invasion of Ukraine.”

“Barbados & OECS countries thanks for your support in saying NO to Russia’s invasion of Ukraine & calling for an end to hostilities”.

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