Featured Sanctions

Georgia On Their Minds

When an officer from Fulton County, in the U.S. state of Georgia, went to check out a mansion registered to one Karina Gapchuk Fox in late 2018, he found no signs of life except the cobwebs that adorned the doors. Process server John Sadler, Jr., had been sent to track… Read More

Rouhani urges anti-money laundering compliance to curb Iran isolation

President Hassan Rouhani said on Monday Iran should stick to rules set by an anti-money laundering watchdog to protect ties between the sanctions-hit country and international banks, as a deadline for compliance looms. Hit hard by reimposed U.S. sanctions since 2018 that limited its oil sales, Iran is scrambling for… Read More

New Singapore Law Allows Global Crypto Firms to Expand Locally

Singapore is introducing new payments legislation that offers global cryptocurrency firms a chance to expand their operations in the country by applying for operating licenses for the first time. The Payment Services Act, which comes into force Tuesday, is the first comprehensive regulation for companies handling activities ranging from… Read More
28th January 2020
The planned restructuring of Swedish oil refiner Nynas AB shows how some companies are trying to disentangle ownership to free themselves from U.S. sanctions. Stockholm-based Nynas this week said it would reorganize with the goal of getting out from under U.S. sanctions. The company is co-owned by Petróleos de Venezuela… Read More
27th January 2020
In narrow terms, the economic sanctions imposed by the United States on Iran in the last two years have been effective, shrinking the Iranian economy by 10 to 20 percent. But they have also accelerated Iran’s use of cryptocurrencies such as bitcoin, which are increasingly used by the Iranian government… Read More
24th January 2020
The U.S. Treasury Department on Thursday blacklisted four foreign companies for allegedly supporting and facilitating Iran’s petrochemical and petroleum exports, among the latest efforts by Washington to ramp up pressure on Tehran. The Treasury alleged the four companies, based in areas ranging from Hong Kong to Shanghai to Dubai, collectively… Read More
23rd January 2020
A year-long crackdown on Latvian banks’ reputation for money laundering and sanctions dodging appeared to have paid dividends January 22 with official recognition of its success from an important international organization. The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism – MONEYVAL is a… Read More
22nd January 2020
Turkey’s Halkbank should pay millions of dollars in fines for its continued failure to respond to U.S. sanctions-evasions charges, federal prosecutors in New York said. In a court filing Tuesday, the government asked a federal judge to impose a daily $1 million fine that would double each week the… Read More
20th January 2020
Britain expanded the scope of its asset-freezing measures against Lebanese Islamist movement Hezbollah on Thursday to cover the entire organization as well as its military wing. The finance ministry move follows Britain’s decision last year to classify the whole group a terrorist organization due to its destabilizing influence in the… Read More
20th January 2020
The Canadian extradition proceedings of Huawei Technologies chief financial officer Meng Wanzhou hinge on allegations she made a fraudulent presentation to HSBC in 2013 over the technology giant’s business ties in Iran, but recently revealed documents show the bank had been aware of Huawei’s business relationships in the Middle Eastern… Read More
17th January 2020
The U.S. Treasury Department said on Thursday it will allow for a 90-day period to wind down transactions in certain sectors of Iran’s economy hit with fresh U.S. sanctions last week. The period, good through April 9, allows transactions in the construction, mining, manufacturing or textiles sectors of Iran’s economy… Read More
16th January 2020
United Nations sanctions experts are warning people not to attend a cryptocurrency conference in North Korea in February, flagging it as a likely sanctions violation, according to a confidential report due to be submitted to the U.N. Security Council later this month. The warning comes after the independent U.N. experts… Read More
15th January 2020
A group of Nordic banks that had been sued by a Russian oligarch aren’t required to accept his business, in what may prove to be a landmark ruling by a court in Finland. Russian billionaire Boris Rotenberg, an associate of President Vladimir Putin, lost his lawsuit against four Nordic… Read More