Sanctions

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    Sanctions

    OFAC Issues Guidance on Extended Statute of Limitations

    By Editors | 22/07/2024

    OFAC plans to extend record-keeping requirements from five to ten years, to match the new statute of limitations period.

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    Sanctions

    UK Publishes Briefing on Third Countries Helping Russia

    By Manesh Samtani | 22/07/2024

    The briefing names Belarus, Iran, North Korea and China as the main countries providing military support to Russia.

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    Sanctions

    UK Imposes Sanctions on 11 Russian ‘Shadow Fleet’ Vessels

    By Editors | 21/07/2024

    The measures are part of a joint “Call to Action” with European countries to disrupt the ‘shadow fleet’ of vessels Russia uses to circumvent oil sanctions.

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    Sanctions

    OFAC Sanctions Two Members of the ‘Cyber Army of Russia’

    By Editors | 21/07/2024

    Two Russian nationals separately pleaded guilty to participating in LockBit ransomware attacks, the DOJ announced separately.

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    AML / KYC

    Thai Banks Urged to Tighten Scrutiny of Myanmar Transactions

    By Editors | 20/07/2024

    Thai Foreign Minister told parliament that the government will meet with banks regarding their due diligence processes for Myanmar transactions.

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    Sanctions

    OFAC Announces More Sanctions Targeting Houthi Funding

    By Editors | 20/07/2024

    The targets include individuals and companies based in Indonesia, Malaysia, Singapore, China, and the UAE, along with five vessels.

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    Sanctions

    China, Russia Exploring New Ways to Address Payment Problems

    By Editors | 19/07/2024

    A Chinese official said financial institutions from the two countries are exploring the possibility of cooperating using the Mir payment system.

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    Enforcement

    Switzerland Has Pursued 56 Cases Involving Russia Sanctions Violations

    By Editors | 19/07/2024

    Out of 56 administrative penal proceedings, 26 were dropped, 15 resulted in penalties, and the others remain under investigation.

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    Enforcement

    US Jails Man for Shipping Microelectronics to Russia via Hong Kong

    By Editors | 17/07/2024

    Russian national Maxim Marchenko procured dual-use military grade microelectronics for Russian end users using Hong Kong-based shell companies.

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    Sanctions

    EU Sanctions Five Israeli Individuals and Three Entities

    By Editors | 17/07/2024

    The sanctions were imposed under the EU’s Global Human Rights Sanctions Regime for human rights abuses against Palestinians.

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