Sanctions

Sanctions

US Tightens Export Controls on Advanced Computing Chips

By Editors | 18/10/2023

The Commerce Department said changes are needed to maintain the effectiveness of the export controls imposed in October 2022 and close loopholes.

Sanctions

OFAC Issues First Sanctions for Breaches of Russia Oil Price Cap

By Editors | 15/10/2023

A new advisory was also released offering recommendations to the maritime industry and related sectors to enhance compliance with the price caps.

Sanctions

OFAC Sanctions Target Drug Trafficking, Crypto Abuse – Chainalysis

By Jill Wong | 10/10/2023

OFAC sanctions against several Chinese entities are an important step in preventing crypto abuse by criminal syndicates, Chainalysis says.

Enforcement

StanChart Seeks Removal of Allegations in Investor Lawsuit

By Mark Johnston | 05/10/2023

Standard Chartered says allegations that it misled investors on its sanctions noncompliance are baseless.

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.