BVI, UK hold bilateral talks! Premier praises response to Ukraine war
Premier and Minister of Finance Andrew Fahie has praised the response of the United Kingdom and the Overseas Territories to the Ukraine crisis.
He delivered those commendations during UK-BVI bilateral talks with Overseas Territories Minister Amanda Milling on March 18.
“The United Kingdom and Overseas Territories have applied unprecedented sanctions in response to Russia’s invasion of Ukraine which we hope will help bring an end to the crisis. War is not the answer. The people of Ukraine deserve to live in peace within their own internationally recognised borders, as called for by the UN General Assembly. Our regulatory agencies will continue to do their part,” Premier Fahie said.
The Minister of Finance also discussed with Milling the economic impact of the Ukraine crisis on the British Virgin Islands and his administration’s potential fiscal and other policy options to respond to rapidly rising inflation and the sharp spike in energy and fuel prices.
“I appreciated the interest by Minister Milling on the economic ripple effects of the Ukraine crisis on the British Virgin Islands and shared with her the various fiscal and other policy options currently being considered to respond to higher prices at the pump and higher electricity bills. She understands the global economic impact the Ukraine crisis is having on economies around the world and the need by Governments, including my Administration, to respond accordingly,” Fahie stated.
At the bilateral talks, Minister of Health Carvin Malone also updated Minister Milling on the impact of COVID-19 in the territory and thanked the United Kingdom for the provision of vaccines and other assistance. Minister Milling confirmed that the UK will continue to support the BVI’s COVID response.
On the issue of economic diversification, Premier Fahie expressed his satisfaction that good progress is being made by the BVI and UK in advancing medicinal cannabis in the British Virgin Islands and thanked Minister Milling and her team for helping to move the process forward.
To round off UK-BVI bilateral talks, Fahie and his Ministers hosted a ministerial dinner in which he thanked Minister Milling for travelling to the British Virgin Islands on his invitation, which he hoped had given her greater familiarity with the people and culture of the islands and a better sense of the territory’s remaining hurricane recovery needs, the potential for sustainable development and modest recovery of tourism from the pandemic.
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No masks
Premier you made the right call on this. War is not the answer. Working with the UK will place more pressure on Russia. You are on the right side of history.
Nice maskless photo but shallow words. So what is the Minister of Finance going to do about all these BVI companies that have been involved with various Russian oligarchs in the last 30 years moving money, operating large yachts and acquiring property in the UK and the BVI?
BVI is applying sanctions on Russia with the UK. Premier already said the jurisdiction will adopt public registers. What more do you want? It seems there are some persons who just dislike the islands.
oh no they’re operating large yatches.
Its a bit ridiculous when you consider if people openly felt this way about BVI landers owning luxury properties because of Andrew and his decision making like it or hate it.
Lame word now. BVI Financial Services needs to:
1) Search ALL its BVI companies for any trace of a connection to russia then strike off any that are still active.
2) Next search the Land Registry for any property in the BVI or UK that has a russian connection to the owner of that property through any of these struck off companies. Repeat at the Ship Registry as well.
3) Seize the property and auction it to BVI and UK residents only. After transfer of the property donate all the proceeds of sale to the government of the Ukraine.
4) Suspend the trade license of all registered agents in the BVI and UK that facilitated russian money or these property transfers in the last 20 years.
Alternatively keep publishing meaningless words that don’t actually do anything that could assist Ukraine defeat the russian bully.
A Russian oligarch, Alexei Mordashov, was reported to have moved $1.3bn shares to the BVI the day he was sanctioned in the UK. The Guardian, in conjunction with other news outlets, has identified that the £82m London home and Surrey mansion of Alisher Usmanov – a former 30% shareholder in Arsenal football club who has also put millions into sponsoring Everton – were put in BVI-based trusts linked to the oligarch.