Sanctions

Sanctions

US, UK, EU and Australia Target Iran With New Sanctions

By Editors | 22/03/2023

The sanctions were imposed for human rights abuses and violations as well as the production and supply of drones to Russia.

AML / KYC

South Korea Issues Another Set of DPRK Sanctions

By Manesh Samtani | 22/03/2023

The sanctions were imposed in the absence of a working multilateral mechanism to respond to its North Korea’s latest ICBM launch.

AML / KYC

UK OFSI Issues Guidance on Assessing Ownership and Control

By Editors | 20/03/2023

Updated guidance sets out expectations around the due diligence that should be performed to assess whether entities are owned or controlled by designated persons.

Sanctions

Raiffeisen Mulls Sberbank Cash Swap to Reduce Russia Exposure

By Editors | 19/03/2023

The deal involves Sberbank receiving roubles in Moscow from Raiffeisen’s Russian subsidiary, and Raiffeisen receiving euros in Vienna from Sberbank’s former European arm.

Market Infrastructure

Cuban Banks Have Adopted Russia’s Mir Card Scheme

By Editors | 14/03/2023

ATMs now display the logo of the Mir payment system and provide an option to withdraw funds in Cuban pesos from cards issued by Russian banks.

Sanctions

Citi Warns of Potential for Russia to Weaponise Metal Exports

By Mark Johnston | 10/03/2023

Analysts worry that Russia could retaliate to new US tariffs on imports of Russian aluminium by banning nickel and palladium shipments.

Enforcement

OFAC Cracks Down on Entities Helping Iran Evade Sanctions

By Editors | 10/03/2023

The sanctions target entities in China, Hong Kong, Singapore, Malaysia and elsewhere for helping Iran evade sanctions and supplying critical components for its drones.

AML / KYC

REPO Task Force Has Immobilised $58b of Russian Assets

By Editors | 10/03/2023

The REPO Task Force has released a statement and a joint global advisory to help the private sector spot and prevent sanctions evasion.

Sanctions

Russia Extends Restrictions on FX Withdrawals, Overseas Transfers

By Editors | 08/03/2023

The restrictions are being preserved due to the sanctions that prohibit Russian financial institutions from buying western countries’ cash, the central bank said.