International Sanctions on Russian Dealings
Vanuatu: Impact and Compliance
By Charles Pratten
Presented by Charles Pratten
Asian Finance Association Annual Conference 2022
- Vanuatu: International Sanctions on Russian Dealings
- Impact and Compliance
Scope of this presentation:
This paper provides a high-level analysis of the potential effects of recent US, UK, and EU sanctions on business activities conducted by Vanuatu entities. While the focus of this paper is primarily on Vanuatu, the insights are broadly applicable to other nations affected by these sanctions, including many in Asia with significant financial ties to Vanuatu. Key sectors potentially impacted may include forex, online gambling, shipping registration, and immigration by investment (Golden Passports).
Sanctioned actors may attempt to exploit these sectors through Vanuatu-domiciled corporations to circumvent restrictions, potentially concealing sanctioned asset dealings through its banking institutions and real estate. This paper is based on information publicly available as to 22 April 2022.
The Author: Charles Pratten (ANZIIF (Snr Assoc) CIP) is a highly regarded consultant in management and economics, with a focus on insurance underwriting and risk management. Beginning his career at Coutts Bank, he has worked with leading insurance and financial services firms worldwide. Currently, Charles advises financial services and law firms in Vanuatu, Dubai, Labuan, and Monte Carlo. Known for his expertise in establishing captive insurance companies, he skillfully navigates complex financial landscapes through innovative legal structures. Invited to present a paper on the impact of international sanctions on Vanuatu at the Asian Finance Association Annual Conference 2022, Charles remains a key influencer in the offshore financial industry.