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Rouhani says Iran will file legal case against U.S. for sanctions

Iranian President Hassan Rouhani said on Monday that the government would file a legal case in Iran against U.S. officials who imposed sanctions on the country as a precursor to action in international courts. Rouhani said in a speech broadcast live on state television that U.S. sanctions had created difficulties… Read More

UAE on EU tax blacklist because of poor communication, UAE banker says

The European Union’s decision to include the United Arab Emirates on its blacklist of tax havens was caused by “lack of communication” between the EU and the UAE government, the head of the UAE Banks Federation said. European Union governments updated a blacklist of tax havens this week, adding the… Read More

EU updates tax haven blacklist, adds UAE, Bermuda

The European Union has published its updated list of non-cooperative jurisdictions for tax purposes, dubbed the tax haven blacklist, adding ten jurisdictions to the existing five states. The new additions include Bermuda and the UAE. “Those jurisdictions did not implement the commitments they had made to the EU by… Read More

13th March 2019

UK fraud office failed to get key Qatar documents for Barclays trial

Britain’s Serious Fraud Office (SFO) failed to take “reasonable and appropriate” steps to get key documents from Qatar’s U.S. lawyers before a fraud trial of four former Barclays executives, a London criminal court heard on Thursday. The jury was told that Judge Robert Jay had ruled in January on the… Read More

8th March 2019

Amid rising trade tensions with U.S., India wants to extend Iran oil sanctions waiver – sources

India wants to keep buying Iranian oil at its current level of about 300,000 barrels per day (bpd), as it negotiates with Washington about extending a waiver of U.S. sanctions past early May, two sources in India with knowledge of the matter said. India has reduced its purchases of Iranian… Read More

7th March 2019

EU states block blacklisting Saudi, Panama over dirty money

The 28 member states of the European Union all backed a decision on Thursday to reject a proposal from the EU executive to add Saudi Arabia to a blacklist of countries suspected of being lax on terrorist financing and money laundering. The decision comes after pressure from Riyadh and other… Read More

7th March 2019

Iran hopes trade channel skirting U.S. sanctions will work within weeks

Iran hopes a new trade channel with Europe aimed at cushioning the blow of reimposed U.S. sanctions will be working within weeks, its deputy foreign minister said on Wednesday. France, Britain and Germany have set up the new mechanism for non-dollar trade with Iran in response to Washington’s withdrawal from… Read More

4th March 2019

EU states block putting Saudi Arabia, U.S. territories on dirty-money list

European Union member states unanimously rejected on Friday a proposal to blacklist Saudi Arabia and four U.S. territories for lax controls on terrorism financing and money laundering, sources told Reuters. Saudi Arabia, a major importer of EU weapons and goods, had lobbied against being branded a “high-risk” country, as had… Read More

28th February 2019

After Saudi king letter EU states move to block dirty-money list

The adoption of a European Union money-laundering blacklist, which includes Saudi Arabia as well as Puerto Rico and three other U.S. territories, could be blocked by EU governments under a procedure launched on Thursday, two EU diplomats told Reuters. Some governments opposed adopting the provisional list on Thursday, triggering a… Read More

28th February 2019

Israeli attorney-general plans to charge Netanyahu in corruption cases

Israel’s attorney-general announced on Thursday he intends to indict Prime Minister Benjamin Netanyahu on corruption charges, a decision coming just six weeks before a closely contested national election. It was the first time a serving Israeli prime minister has been put on official notice of planned prosecution, and deepened uncertainty… Read More

28th February 2019

UK Sanctions Agency Issues First-Ever Fine Against London Bank

The United Kingdom’s sanctions enforcer levied a £5,000 monetary penalty against London-based Raphaels Bank, marking the first time the agency has imposed a fine since its creation in 2016. The Office of Financial Sanctions Implementation (OFSI) imposed the penalty for an unspecified violation of an Egyptian asset freezing order involving a £200… Read More

26th February 2019

HSBC probe helped lead to U.S. charges against Huawei CFO

An internal investigation by HSBC Holdings PLC into Huawei Technologies’ connections to a suspected front company in Iran found that the Chinese telecommunications equipment maker maintained close financial ties to the firm years after purportedly selling the unit, documents reviewed by Reuters show. Huawei came in late 2016 and 2017… Read More

26th February 2019

UK to Ban Hezbollah’s Political Wing

The UK will blacklist Hezbollah’s political wing over the group’s alleged role in destabilizing Syria, Home Secretary Sajid Javid announced Monday. The move, which requires parliamentarian approval and is expected to take effect as early as Friday, would follow proscriptions of the Shi’ite group’s External Security Organisation in 2001 and… Read More

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