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SANCTIONS
Sanctions
OFAC Announces Russian Diamond Ban, Price Cap Sanctions
By Editors | 09/02/2024
Import ban on Russian diamonds starts 1 March 2024. New sanctions target UAE-based entities and an oil tanker.
Sanctions
Australian Court Rejects Sanctions Challenge from Rusal Founder
By Editors | 09/02/2024
The Federal Court ruled that the sanctions imposed on Russian oligarch Oleg Deripaska were valid and proportionate.
Sanctions
Taiwan Adds More High Tech Items to Export Control List
By Editors | 08/02/2024
The expanded export controls list is part of a response to reports that Taiwan-made machine tools have ended up in Russia.
AML / KYC
Iraq Bars Eight Local Banks from Accessing US Dollars
By Editors | 06/02/2024
The move came days after a visit to Iraq by a top US official to discuss measures to protect the financial systems from criminal, corrupt and terrorist actors.
Sanctions
Canada Joins Allies in Sanctioning Hamas Officials
By Editors | 06/02/2024
This is the first time that Canada has used sanctions under its SEMA regulations to target non-state actors.
Sanctions
Iran Reported to Have Used UK Banks for Sanctions Evasion
By Editors | 06/02/2024
Iran allegedly used front companies in the UK to conceal real ownership and receive funds at accounts at two of the UK’s largest banks.
Enforcement
US Unseals Charges Against Iranian Oil Trafficking Network
By Editors | 05/02/2024
Nine individuals were charged over the illicit sale of Iranian oil to government-linked buyers in Russia, Syria and China.
Sanctions
OFAC Sanctions Four HK Entities for Supporting Iran
By Editors | 05/02/2024
Three of the Hong Kong companies operated as “covert procurement entities” for Iran’s weapons programmes. The fourth sold Iranian commodities to benefit Iran.
Sanctions
Oil Price Cap Coalition Issues Alert on Evasion Methods
By Editors | 04/02/2024
The alert includes an overview of key oil price cap evasion methods as well as recommendations for identifying them.
Sanctions
Taiwan Tightens Controls on Machine Tool Exports to Russia
By Editors | 04/02/2024
The penalty for first-time illegal exports to Russia has been increased and Russian company “I Machine Technology” was added to Taiwan’s entity list.
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