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Defense Act Expands Scope of Foreign Bank Records U.S. Authorities Can Obtain

U.S. authorities have more power to obtain documents from foreign banks with U.S. correspondent accounts under recently passed defense-policy legislation. A provision of the National Defense Authorization Act, approved Jan. 1, allows the U.S. Treasury secretary or attorney general to subpoena records related to any account at a foreign bank… Read More

After Brexit, the UK is Open to Almost Unrestrained Antiquities Trade

By David Klein, OCCRP, 14 January 2021 OCCRP — Following the final implementation of Brexit, and thus the U.K.’s complete exit from the European Union, the country has last week rejected EU trade regulations designed to clamp down the illegal antiquities trade. The EU law, which… Read More

Alleged RCMP mole accused of selling secrets to kingpin money launderer and terror-financier’s network

In October 2014, Canadian intelligence leaders were invited to the U.S. Drug Enforcement Administration’s headquarters in Chantilly, Va. The DEA had a theory: the upper echelons of global money laundering, terrorism, drug-trafficking and organized crime all bleed together. And only a handful of men in this murky world of extremely… Read More
25th December 2020
The top Democrat on the Senate Banking Committee, Sherrod Brown, has asked the U.S. Treasury Department for a briefing about allegations that Russian billionaire Oleg Deripaska continued to influence day-to-day activities of United Co. Rusal International PJSC and whether those activities would violate a 2018 sanctions relief deal. Read More
18th December 2020
European officials have provided information to the U.S. government indicating that Russian billionaire Oleg Deripaska continued to exert control this year over United Co. Rusal International PJSC, which the officials say was a breach of a U.S. sanctions agreement reached in 2018. An assessment sent to U.S. officials earlier… Read More
7th October 2020
Rishi Sunak will take on new powers to block companies from listing on the London Stock Exchange on national security grounds. The chancellor is understood to be preparing to launch a consultation on the details in the coming weeks in response to demands from MPs. The limitations of the rules… Read More
10th June 2020
The long-running legal spat between billionaire Oleg Deripaska and Vladimir Chernukhin took another twist after the former Russian government minister demanded Deripaska be put in jail. Chernukhin, whose wife is one of the largest donors to the Conservative Party in the U.K., claims Deripaska breached a commitment to court… Read More
4th September 2019
Russian billionaire Oleg Deripaska wants a U.S. judge to lift sanctions against him because, he claims, the U.S. Treasury Department failed to prove he acted as an agent of Russian President Vladimir Putin. The Treasury’s Office of Foreign Assets Control, known as OFAC, punished Deripaska last year in response… Read More
13th June 2019
The United Kingdom must amend its disjointed approach to sanctions policymaking and enforcement ahead of the country’s departure from the European Union, a House of Commons committee said in a report Wednesday. The findings by the Foreign Affairs Committee cite concerns that the Foreign & Commonwealth Office has set… Read More
15th May 2019
First quarter net profit halved at United Company Rusal year-on-year as the lingering effects of U.S. sanctions and depressed global prices hit the Russian aluminum giant. However the weak performance is likely to be a one-off event, analysts said, as Rusal continues on the road to recovery following 10 months… Read More
16th April 2019
Rusal is making its first investment in the United States since Washington lifted sanctions against the Russian aluminum giant, teaming up with U.S. manufacturer Braidy Industries to build a mill in Kentucky. Rusal, the world’s largest aluminum producer outside China, announced the deal in one of the main markets for… Read More
18th March 2019
AP — Russian oligarch Oleg Deripaska filed a lawsuit Friday against the U.S. Treasury Department, saying the sanctions against him have caused a “wholesale devastation” of his wealth and reputation. The billionaire argues he was unfairly and illegally targeted by the U.S. government when he was slapped with sanctions… Read More
6th February 2019
The U.S. Office of Foreign Assets Control (OFAC) recently removed three companies from its Specially Designated Nationals (SDN) List, where they had been each designated under two Executive Orders as part of OFAC’s Ukraine-/Russia-related program. The delisting process for these firms, which was elongated due to the Congressional oversight… Read More