SANCTIONS

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    Sanctions

    OFAC Sanctions 18 Tankers for Russian Oil Price Cap Violations

    By Editors | 19/01/2024

    UAE based shipping company Hennesea and 18 of its vessels are subject to restrictions for transporting Russian crude at prices higher than the price cap.

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    AML / KYC

    EU Council, Parliament Reach Provisional Agreement on AMLD6

    By Manesh Samtani | 18/01/2024

    The scope of the AML rules is broadened to include cryptoassets, luxury goods, football clubs and golden visas. There is also an EU-wide cash payment limit of EUR 10,000.

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    Sanctions

    US Sanctions Prompt China Banks to Review Russia Business

    By Editors | 18/01/2024

    The threat of secondary sanctions has prompted Chinese state-owned banks to review their Russian business and sever ties with clients on the sanctions list.

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    Sanctions

    US Redesignates Yemen’s Houthis as Global Terrorist Group

    By Editors | 18/01/2024

    The designation comes with sanctions that target the group’s sources of financing and restrict its access to financial markets.

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    Sanctions

    S. Korea Imposes Sanctions to Block DPRK Maritime Activities

    By Editors | 17/01/2024

    The sanctions target ships, individuals, and organisations for “illegal maritime activities that support North Korea’s nuclear and missile development.”

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    AML / KYC

    NYDFS Announces $8m Settlement With Genesis Global Trading

    By Editors | 15/01/2024

    Genesis Global Trading is also required to give up its BitLicense and cease all operations in New York as part of the settlement.

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    Sanctions

    Better Enforcement Needed on Russia-related Export Controls

    By Editors | 15/01/2024

    New report calls for coalition authorities to address the role of third-country intermediaries in export controls circumvention schemes.

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    Sanctions

    US Sanctions HK, UAE Companies to Target Houthi Revenues

    By Editors | 15/01/2024

    OFAC also identified four vessels as blocked property for their involvement in shipping Iranian commodities on behalf of a Houthi financial facilitator.

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    Sanctions

    Biden Administration Supports Confiscation of Russian Assets – Report

    By Editors | 12/01/2024

    There have been concerns that the seizure of Russian assets could taint the reputation of the US financial system and spark a flight from the dollar.

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    Sanctions

    US Imposes Sanctions Targeting Transfer of DPRK Missiles to Russia

    By Editors | 12/01/2024

    Three Russian entities, one individual, and four aircraft were designated over the transfer of ballistic missiles to Russia for use against Ukraine.

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