SANCTIONS

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    Sanctions

    Bangladesh Banks Directed to Stop Transacting With Myanmar State Banks

    By Editors | 07/09/2023

    Citing US sanctions, Bangladesh Bank instructed banks to stop transacting with Myanma Foreign Trade Bank and Myanma Investment and Commercial Bank.

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    Sanctions

    China to Launch New State Investment Fund for Chip Sector

    By Editors | 06/09/2023

    The new fund will have a fundraising target of CNY 300 billion, a fifth of which will come from the Ministry of Finance.

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    Sanctions

    Risky Business: Southeast Asia’s Continued Trade with Russia

    By Gary Somerville | 03/09/2023

    Close associations with Russia’s defence industry expose Southeast Asian countries to sanctions risk, say RUSI’s Gary Somerville and Jack Crawford.

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    Sanctions

    US, Korea, Japan Announce New DRPK Sanctions

    By Editors | 01/09/2023

    The three countries pledged to continue working together to counter North Korea’s destabilising activities, including weapons development and cyber attacks.

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    Enforcement

    UK Discloses Russia Sanctions Breach by Wise Payments

    By Editors | 01/09/2023

    The disclosure is meant to act as a form of censure and deterrent, while also providing compliance lessons. No monetary penalty was imposed.

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    AML / KYC

    MAS Issues Additional Guidance on Managing Sanctions Risk

    By Manesh Samtani | 31/08/2023

    The guidance covers board and senior management responsibilities and the use of look-back reviews of past transactions.

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    Sanctions

    US, China Open Communication Channels on Export Controls

    By Editors | 30/08/2023

    US and Chinese officials agreed to establish a new “export control enforcement information exchange” mechanism and a “commercial issues working group”.

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    AML / KYC

    Laos AML/CFT Regime Has “Significant Deficiencies” – FATF

    By Manesh Samtani | 30/08/2023

    Laos is rated “non-compliant” on nine of the FATF’s 40 recommendations, and “partially compliant” on 22 recommendations.

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    Sanctions

    Russia Considers Decree to Enable Investors to Unblock Assets

    By Mark Johnston | 28/08/2023

    Under the plan, interested foreign investors would be able to buy Russian assets currently frozen in Europe.

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    Sanctions

    New Zealand Joins US, UK in Sanctions over Treatment of Ukrainian Children

    By Editors | 27/08/2023

    The New Zealand and US sanctions coincided with Ukrainian Independence Day on 24 August.

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