Sanctions

Sanctions

OFAC Sanctions China-based Network for Fentanyl Production, Trafficking

By Editors | 04/10/2023

The DOJ unsealed indictments charging Chinese companies and their employees for illicit drug production, distribution, and sales of precursor chemicals.

Sanctions

Singapore Court Rules Against JPMorgan in Trade Sanctions Lawsuit

By Manesh Samtani | 02/10/2023

The Court of Appeal ruled that JPMorgan’s use of a sanctions clause to withhold payment on letters of credit was not contractually justified.

Sanctions

Western Allies Issue Guidance on Russia-related Export Controls

By Mark Johnston | 01/10/2023

E5 countries issue a guidance document for industry and academia on exporting commercial goods that may be subject to Russia sanctions.

Sanctions

UK Imposes New Sanctions Over “Sham Elections” in Ukraine

By Mark Johnston | 01/10/2023

The sanctions are a response to Russia’s attempts one year ago to use “falsified and illegitimate sham referendums” to annex sovereign Ukrainian land.

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.