PHILIPSBURG – According to an article published by HBN Law & Tax firm on March 1st, 2022, the EU levied economic sanctions against Russia over their current Ukraine invasion are also applicable in Dutch Caribbean countries, including St. Maarten, through the Sanctions Ordinance and Sanctions Regulation.
In practical terms this means that all businesses and persons in the Dutch Caribbean “have an active duty to ensure that they shall not act in violation of the EU-sanctions”. This is not only applicable to “financial services, such as those rendered by banks or trust service providers, but may also be relevant in the maritime and aviation industry, for example where it concerns mega yachts or private jets of sanctioned persons arriving in or requesting services of any type in the Dutch Caribbean”, according to the article published by HBN Law & Tax firm.
The entire article can be read here.
Okay, get them, sell them and forward the money to the Ukraine government.
Absolutely, go for it….