Sanctions

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    Sanctions

    Russia to Resume Yuan Trading to Stabilise Ruble

    By Editors | 13/01/2023

    The move comes a year after the central bank suspended yuan trading. The finance ministry said it is allocating the equivalent of about $800mn for FX trades.

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    AML / KYC

    Financial Crime: Threats, Challenges, and Priorities for 2023

    By Manesh Samtani | 12/01/2023

    RUSI’s Tom Keatinge discusses the continuing focus on fraud and scams in Asia, and work underway on asset recovery, sanctions, and environmental crime.

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    Sanctions

    US Sanctions Iranian Executives Over Russia Drone Sales

    By Editors | 10/01/2023

    Six officers and board members of Qods Aviation Industries were designated over the use of Iranian drones by Russia to attack Ukrainian civilian infrastructure.

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    Sanctions

    Taiwan Expands Export Controls Against Russia, Belarus

    By Editors | 08/01/2023

    The export controls are aimed at preventing Taiwan’s high-tech products from being used for military purposes.

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    Crypto / Digital Assets

    US SEC Objects to Binance Acquisition of Bankrupt Crypto Lender

    By Editors | 07/01/2023

    The SEC may be concerned about a possible co-mingling of funds between Binance’s US and global entities to fund the acquisition.

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    Sanctions

    Will 2023 be the End of International Sanctions?

    By Tom Keatinge | 05/01/2023

    With the UNSC’s sanctions role effectively neutered, new sanctions coalitions and international harmony are needed to blunt North Korea’s nuclear ambitions and ensure global security.

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    AML / KYC

    NYDFS Ends Coinbase AML Probe With $100m Settlement

    By Editors | 05/01/2023

    The settlement includes a $50mn penalty and a commitment by Coinbase to invest a further $50mn in its compliance programme over the next two years.

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    Sanctions

    OFAC Issues Initial Price Cap Guidance for Russian Petroleum Products

    By Editors | 05/01/2023

    The new price cap on petroleum products is due to take effect on 5 February 2023, alongside an EU ban on seaborne imports of refined products originating from Russia.

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    Crypto / Digital Assets

    Russia’s Sberbank Issues Gold-Backed Digital Financial Assets

    By Editors | 04/01/2023

    Gold-backed DFAs “may be a great alternative to investments amid de-dollarisation”, said Sber’s first deputy chairman, Alexander Vedyakhin.

    AML / KYC

    SFC to Collect More Granular Data from Licenced Firms

    By Manesh Samtani | 30/12/2022

    Many of the new questions in the SFC’s updated BRMQ focus on AML/CFT practices and brokerage business controls.

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