Sanctions

Sanctions

US Extends Iran Sanctions Waiver Used by Iraq

By Editors | 14/03/2024

The waiver allows Iraq to pay Iran for electricity and natural gas imports into escrow accounts, where the funds can only be used for humanitarian supplies.

Sanctions

EU Considers Sanctions Package Targeting Russia Facilitators

By Editors | 14/03/2024

The EU sanctions could target Belarus, North Korea, Iran and other third countries where entities enable Russian access to weapons and sensitive technology.

Sanctions

EU Parliament Approves Rules Criminalising Sanctions Violations

By Editors | 14/03/2024

Sanctions violations and circumvention will be punished with up to five years in jail for individuals and fines for companies.

Sanctions

Russia Importing UK Luxury Cars via Azerbaijan – Reports

By Editors | 13/03/2024

Azerbaijan received £273mn in vehicle imports from the UK in 2023, a 1,860% increase from the five-year period preceding 2022.

Sanctions

Switzerland Opens First Russia Sanctions-related Criminal Probe

By Editors | 13/03/2024

The company being probed is understood to be a commodity trading firm that used a UAE subsidiary to circumvent Swiss sanctions against Russia.

Sanctions

OFAC Sanctions Four for Aiding Bahrain-based Terrorist Group

By Editors | 13/03/2024

OFAC has sanctioned four individuals who fled Bahrain in 2018 to evade terrorism-related charges and wound up in Iran.

Sanctions

Russia Moves Ahead With Plan to Unblock Foreign-Listed Shares

By Editors | 13/03/2024

Under the plan, Russian private investors will be able to sell shares in overseas listed companies to foreigners with cash stuck in Russia.

Sanctions

OFAC Targets Financial Facilitators of al-Shabaab Militant Group

By Editors | 12/03/2024

OFAC said al-Shabaab, an al-Qa’ida-affiliated terrorist group, that is “responsible for some of the worst terrorist attacks in East Africa’s modern history”.

AML / KYC

Canadian FIs Required to Treat Russia as FATF-Blacklisted

By Editors | 12/03/2024

A ministerial directive requires Canadian FIs to treat every financial transaction connected to Russia as high-risk regardless of size.