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SANCTIONS
Enforcement
US Warns Countries Against Allowing Russian Banks to Set Up Branches
By Editors | 26/08/2024
Deputy Treasury Secretary Wally Adeyemo said the US will go after the branches as well as other entities and companies that work with them.
Sanctions
US Announces New Russia Sanctions Against Nearly 400 Targets
By Editors | 26/08/2024
The targets include individuals and entities from across 16 jurisdictions, including China, Hong Kong, Switzerland and the UAE.
Sanctions
US DOJ Secures Guilty Plea in Venezuela Sanctions Evasion Case
By Editors | 25/08/2024
The DOJ said George Semerene Quintero lied to US suppliers and created false documents as part of a scheme to evade US sanctions and export controls.
AML / KYC
Most Kyrgyz Banks Have Suspended Money Transfers to Russia
By Editors | 25/08/2024
13 of 16 Kyrgyz banks have halted transfers to Russian lenders via their mobile apps. The central bank said this is to “prevent the negative impact of international sanctions”.
Sanctions
OFAC Issues Update on Infrastructure Modernisation Initiatives
By Editors | 22/08/2024
OFAC has released updated FAQs to make sanctions compliance easier and launched a new online platform for the public to submit queries.
Enforcement
Latvia Extradites Citizen to Face US Charges for Russian Exports
By Editors | 22/08/2024
Oleg Chistyakov conspired with two US nationals to sell sophisticated avionics equipment to Russian companies, in violation of sanctions.
Sanctions
US Sanctions Former Haitian President for Drug Trafficking
By Editors | 21/08/2024
OFAC said Michel Joseph Martelly facilitated the trafficking of dangerous drugs, laundered illicit drug proceeds, and sponsored criminal gangs.
Sanctions
Shanghai Chip Equipment Firm Sues for Removal from US Blacklist
By Editors | 20/08/2024
AMEC said it has never been involved in any military-related activities and its inclusion in the US blacklist was without legal basis.
AML / KYC
Lithuania Intensifying Crackdown on Sanctions Evasion Activities
By Editors | 19/08/2024
Over 50 investigations relating to sanctions breaches have been opened in Lithuania. Rulings in several cases have already been issued.
Sanctions
UK OFSI Issues Additional Guidance on Russia Sanctions
By Editors | 19/08/2024
Among other things, the new FAQs clarify that non-sanctioned Russian nationals and companies in the UK are allowed to open or maintain UK bank accounts.
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