SANCTIONS

Sanctions

G7 Plans to Ban Imports of Russian Diamonds – Report

By Mark Johnston | 17/09/2023

The move is part of efforts to reduce Russia’s revenues and pressure it to end its war in Ukraine.

Sanctions

Gibson Dunn’s David A. Wolber Discusses Compliance Challenges with Sanctions

By Editors | 15/09/2023

David A. Wolber, Of Counsel at Gibson Dunn, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, he discussed how Singaporean banks and companies face increasing compliance challenges in the sanctions space, citing a couple of reasons. He also outlined steps to avoid violating sanctions.

Sanctions

US Government Unveils 150 New Russia-related Sanctions

By Editors | 15/09/2023

The sanctions include two more Russia-based banks along with several Russia-based wealth management consulting, auditing, and investment firms.

Sanctions

US to Tighten Foreign Investment Scrutiny Amid China Concerns

By Mark Johnston | 15/09/2023

CFIUS will increase its compliance checks, questions, and site-visits, and hire more third-party auditors to identify deals that could impact national security.

Sanctions

EU Imposes Human Rights Sanctions Against Russian Judges, Prosecutors

By Editors | 13/09/2023

The EU Council said Russia’s judiciary is “not independent” and is “used to systematically and severely violate the human rights of individuals opposed to the ruling regime”.

Sanctions

FinCEN Sheds Light on Cases of Export Control Evasion

By Editors | 11/09/2023

SAR filings reveal that a network of China- and Hong Kong-based entities may be providing support to Russia’s military and/or defense industrial base.

Sanctions

EU Issues New Guidance on Preventing Sanctions Circumvention

By Editors | 11/09/2023

If sanctioned items are exported to third countries and then re-exported to Russia, the underlying due diligence inadequacies will be considered sanctions law violations.

AML / KYC

No Place to Hide: US Court Upholds Sanctions on Decentralised Crypto Platform

By James Gillespie | 11/09/2023

RUSI’s James Gillespie discusses what the Tornado Cash case means for holding DeFi platforms accountable under AML and sanctions laws.

Sanctions

HSBC to Halt Russia, Belarus Payments for Corporate Clients – Reports

By Editors | 11/09/2023

HSBC reportedly told customers that the sanctions and trade restrictions imposed on Russia and Belarus have made it “increasingly challenging” to operate.