SANCTIONS

Sanctions

UK OFSI Updates Russia Sanctions Guidance

By Editors | 29/09/2023

The updated guidance addresses uncertainties regarding funds received from sanctioned banks when neither the sender nor recipient are designated persons.

Sanctions

OFAC Sanctions Procurement Network for Iranian Drones

By Editors | 28/09/2023

The new sanctions target five entities and two individuals based in Iran, China, Hong Kong, Turkey and UAE.

Enforcement

UPDATED – US DOJ Probes Possible Sanctions Violations at Credit Suisse, UBS – Report

By Editors | 28/09/2023

The DOJ has requested information about how Credit Suisse and UBS handled the accounts of sanctioned clients in recent years.

Market Infrastructure

China, EU Agree Measures to Ease Trade Tensions

By Editors | 27/09/2023

The two sides agreed to establish an export controls dialogue mechanism and to set up a new working group on financial regulation, among other measures.

Enforcement

US Court Jails Wildlife Trafficker for Rhino Horn Smuggling

By Mark Johnston | 25/09/2023

A Malaysian citizen who conspired to smuggle rhino horns worth USD 2.1 million has been jailed in the US.

Enforcement

OFAC Penalises 3M and Emigrant Bank for Iran Sanctions Violations

By Editors | 24/09/2023

3M agreed to pay $9.6mn for shipments destined for a customer in Iran. Emigrant Bank agreed to pay about $32,000 for processing transactions for two Iranian residents.

Sanctions

US Sanctions Entities Linked to Iranian Drone Production

By Editors | 23/09/2023

The sanctions target entities in Iran, China, Russia, and Turkey for aiding the production, maintenance, and procurement of drones and military aircraft by Iran.

Enforcement

US SEC Charges NY Investment Firm for Advising Russian Oligarch

By Sanday Chongo Kabange | 19/09/2023

The SEC charged Concord Management and its owner for failing to register as investment advisers while advising a sanctioned Russian oligarch.

Sanctions

OFAC Sanctions Iran’s Former President, Intelligence Ministry

By Editors | 19/09/2023

The sanctions were announced after the completion of a prisoner swap, which saw five US citizens released from Iranian detention.