Category: Sanctions News

Serbia is close to signing a deal on the purchase of 12 French Rafale multi-purpose fighter jets, the Serbian president announced Tuesday, in what would mark a shift from its traditional military supplier Russia. President Aleksandar Vucic spoke during his two-day visit to Paris and talks with French President Emmanuel Macron as well as French defense officials including Rafale manufacturer…

A unit of defunct lender Credit Suisse will seek to overturn an order to pay US$743 million (S$1 billion) to a billionaire client over the actions of a notorious rogue banker at Singapore’s top court on April 8. The sum was awarded after a lower court earlier ruled that the bank’s trust had failed to safeguard the assets of Bidzina…

The US Department of State announced the designation of former North Macedonia Special Chief Prosecutor, Katica Janeva; current mayor of Karpos, North Macedonia, Stevco Jakimovski; and former mayor of Kacanik, Kosovo, Xhabir Zharku, for their actions undermining the rule of law and the public’s faith in their respective governments’ democratic institutions and public processes. Janeva was found to be involved in corrupt acts,…

  The U.S. is reviewing its sanctions policy against Venezuela after a court in that country upheld a ban preventing presidential candidate Maria Corina Machado from holding office, the U.S. State Department said Saturday. The ruling by Venezuela’s Supreme Justice Tribunal on Friday means Machado, a 56-year-old industrial engineer, cannot register her candidacy for presidential elections scheduled for the second…

US Targets Foreign Banks with Sanctions to Curb Russia’s War Effort In a decisive stroke designed to undermine Russia’s military capabilities, US President Joe Biden has signed a far-reaching executive order targeting the financial sinews aiding Russia’s war efforts in Ukraine. The order, enacted on December 22, 2023, sanctions foreign banks that allegedly support Russia’s defense sector, underscoring the US…

In a bid to counter the impact of U.S. sanctions, Iran and Cuba announced their commitment to enhancing relations during a joint statement in Tehran. Iranian President Ebrahim Raisi and Cuban counterpart Miguel Diaz-Canel emphasized the need for cooperation to counter the economic challenges posed by the sanctions imposed on both nations by the United States. Raisi highlighted the potential…

WASHINGTON: The US on Wednesday said it imposed a new round of sanctions on a group of 20 people and firms allegedly involved in a financial facilitation network for the benefit of the Iranian military. The Treasury Department sanctions impact firms and people spanning Hong Kong to the United Arab Emirates. Included in the sanctions package are employees, brokers and…

BRUSSELS: Alexander Pumpyansky, the son of Russian tycoon Dmitry Pumpyansky, won an appeal against sanctions the European Union introduced over Russia’s invasion of Ukraine, the bloc’s court said on Wednesday. In the ruling, the court said the EU council had admitted that from March 9, 2022 – two weeks after the invasion of Ukraine and six months before the first set…

The U.S. Department of the Treasury has sanctioned the Sinbad cryptocurrency mixing service for its use as a money-laundering tool by the North Korean Lazarus hacking group. A cryptocurrency mixer is a server that allows people to deposit crypto, which is mixed among many different wallet addresses to help prevent it from being accurately traced. The mixing service takes a…

With Russian tanks and troops descending on Ukraine in early 2022, Cyprus became a hotbed of financial activity. The island country has long been known as an offshore transit point for the fortunes of Russian billionaires, and as sanctions loomed over many of them last year, Cyprus financial services firms fielded a series of urgent demands to transfer funds and…

PARIS: France has issued an international arrest warrant for Syrian President Bashar al-Assad, accused of complicity in crimes against humanity over chemical attacks in 2013, a judicial source and plaintiffs in the case said Wednesday. The judicial source told AFP Assad was also suspected of complicity in war crimes for the attacks, blamed by the opposition on the regime, that…

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned Russian national Ekaterina Zhdanova for laundering millions in cryptocurrency for various individuals, including ransomware actors. Zhdanova used her expertise in cryptocurrency and blockchain networks to move money through various platforms such as Garantex (sanctioned in April 2022 for aiding the Hydra Market) to evade “Anti-Money Laundering/Combating the Financing of Terrorism” (AML/CFT) controls. A report…

[…] ‘The Daily Telegraph’ and ‘Mail Online,’ disclosed that following the Hamas attack on Israel, the United States urged Rishi Sunak, the Prime Minister of the United Kingdom, to blacklist the Islamic Revolutionary Guards Corps (IRGC). On October 21, 2023, ‘The Daily Telegraph’ reported, quoting Matthew Miller, the official spokesperson of the US State Department: “We absolutely think that other…

WASHINGTON — The Biden administration on Wednesday broadly eased sanctions on Venezuela’s oil sector in response to a deal reached between the government and opposition parties for the 2024 election – the most extensive rollback of Trump-era restrictions on Caracas. A new general license issued by the U.S. Treasury Department authorized OPEC member Venezuela, which had been under crushing sanctions…

Matthew Miller, Department Spokesperson
Today, the United States is designating a network linked to the U.S.-designated Iranian Revolutionary Guard Corps (IRGC).  This network–comprised of five entities and two individuals based in Iran, the People’s Republic of China (PRC), Hong Kong, Türkiye, and the United Arab Emirates–has been procuring sensitive parts for Iran’s one-way attack unmanned aerial vehicle (UAV) program.
Iran is supplying Russia with arms, including Shahed-136 UAVs, to support Russia’s illegal war against Ukraine.  One of the servomotors procured by the network designated today was recovered in the remnants of a Russia-operated Shahed-136 that was recently shot down in Ukraine.
The United States is determined to take actions against those supporting Russia’s war machine, particularly the provision of weapons that target Ukraine’s people and civil infrastructure.
For more information on today’s action, please see the Department of the Treasury’s press release .

The US Department of Justice has stepped up its probe into Credit Suisse Group and UBS Group over suspected compliance failures that allowed Russian clients to evade sanctions, according to people familiar with the situation. What began as a series of subpoenas sent to a range of banks early this year has developed into a full-scale investigation focusing on Credit…