Featured Sanctions

Lebanon’s Jammal Trust Bank forced to close by U.S. sanctions

Lebanon’s Jammal Trust Bank has been forced to wind itself down after being hit last month by U.S. sanctions for allegedly helping to fund the Iran-backed Hezbollah movement, the bank said on Thursday. The central bank said the value of the bank’s assets, and its share of the national deposit… Read More

US helping Venezuela’s Guaido track stolen art

AP — U.S. officials are investigating the suspected looting of valuable European and Latin American artwork they believe is being quietly plundered by Venezuelan government insiders as Nicolas Maduro struggles to maintain his grip on power. The U.S. Treasury in recent months has sought the cooperation of the… Read More

Belgium joins EU mechanism to trade with Iran

The parliamentary foreign affairs commission on Tuesday approved a draft resolution supporting Belgium’s membership of INSTEX, the European special purpose company that is required to allow trade with Iran despite American sanctions. In 2015, an agreement was reached between Iran and the five members of the UN Security Council as… Read More
19th September 2019
Just days after declaring the United States was “locked and loaded” in response to a suspected Iranian attack on key Saudi Arabian oil facilities, U.S. President Donald Trump on Wednesday said that he directed the Treasury Department to “substantially increase” sanctions on Iran. That raises several questions: What is left… Read More
19th September 2019
British Arab Commercial Bank PLC agreed to pay $4 million to settle allegations that it violated U.S. sanctions on Sudan, the U.S. Treasury Department said. The Treasury had alleged that the London-based commercial bank, with no presence in the U.S., processed payments of hundreds of millions of U.S. dollars related… Read More
18th September 2019
The investigation that led to the arrest last week of a senior Canadian intelligence official was triggered by the discovery in 2018 of a document held by a Vancouver businessman who was suspected of operating a mobile-phone network used to distribute narcotics and payments, a person familiar with the… Read More
18th September 2019
An industry group representing Florida banks pushed for an exemption to U.S. sanctions on Venezuela that were issued last week, executives said on Tuesday, arguing the measures had affected customers with no ties to President Nicolas Maduro. The Trump administration on Aug. 5 tightened sanctions against Venezuela, freezing all government… Read More
16th September 2019
The U.S. Treasury on Friday announced sanctions on three North Korean hacking groups it said were involved in the “WannaCry” ransomware attacks and hacking of international banks and customer accounts. It named the groups as Lazarus Group, Bluenoroff, and Andariel and said they were controlled by the RGB, North Korea’s… Read More
13th September 2019
Jason Sanchez, 35, was able to start buying spare parts online last year for his cellphone repair shop in Havana thanks to the advent of cryptocurrency trading in Communist-run Cuba. Cuba, which in many ways remains stuck in the analogue past, may seem an unlikely hotbed for cryptocurrencies – digital… Read More
12th September 2019
The U.S. plans to use expanded counterterrorism powers to target foreign financial institutions that facilitate terrorist financing, leaders of terrorist groups and those participating in terrorist training over the internet, a U.S. Treasury Department senior official said. “Foreign financial institutions should be on notice that the U.S. government will fully… Read More
12th September 2019
The anti-money laundering body of the Council of Europe, Moneyval, said on Wednesday that Moldovan authorities need to fully and consistently use the legislative framework in order to combat money laundering. Moldova should also increase the effectiveness of confiscation of proceeds, in particular regarding extended confiscation, the Council of Europe said… Read More
11th September 2019
The global anti-money laundering watchdog is closely monitoring developments on Facebook’s planned Libra cryptocurrency, its new head told Reuters on Tuesday, in the latest sign of growing regulatory scrutiny of the project. The Facebook-led Libra project is mooted for launch by June next year. Regulators’ and politicians’ concerns range from… Read More
11th September 2019
The United States on Tuesday announced sanctions on a “wide range of terrorists and their supporters,” including the Palestinian group Hamas and Iran’s Islamic Revolutionary Guards Corps, on the eve of the 18th anniversary of the Sept. 11 attacks. The targets include 15 leaders, individuals and entities affiliated with groups… Read More