Category: Sanctions News

Alabama Man Indicted for Violating U.S. Sanctions Against Iran

An indictment was unsealed today charging Ray Hunt, 69, of Madison County, Alabama, with federal offenses related to an illegal scheme to export U.S.-origin goods to Iran. The 15-count indictment charges the defendant with conspiracy to defraud the United States, sanctions violations, smuggling goods from the United States and submitting false or misleading export information. According to the indictment, since…

“Cash is King” to Avoiding US Sanctions

Miami – It was a deal that brought together oligarchs from some of America’s top adversaries. ‘The key is the cash,’ the oil broker wrote in a text message, offering a deep discount on Venezuelan crude shipments to an associate who claimed to be fronting for the owner of Russia’s biggest aluminum company. ‘As soon as you are ready with…

Sanctions on anti-war, Ukrainian individuals? Alex Ozhelskiy and Mikhail Fridman

Alexander Ozhelskiy, 22, son of Russian billionaire Mikhail Fridman, posted a video address in which he says that he does not support the war in Ukraine and thinks the sanctions against him are unfair. Alexander states that he has participated in “pro-Ukrainian protests”. Ozhelskiy is the co-founder and general director of Esef Direct Investments LLC, as well as a co-founder…

OFAC Sanctions Virtual Currency Mixer “Tornado Cash”

On August 8, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) sanctioned virtual currency mixer Tornado Cash for having laundered more than USD 7 billion worth of virtual currency since its founding in 2019.  This includes over USD 455 million worth of stolen virtual currency associated with the Lazarus Group, a “Democratic People’s Republic of…

Russian Sanctions Update: Will “Biting” Eighth EU Sanctions Package Prohibit Legal Services?

“Russia should not benefit from European knowledge and expertise.”  That is the view of European Commission (“EC”) President Ursula von der Leyen, who recently proposed an eighth package of sanctions against Russia in response to “escalation” in Ukraine. Among the “biting” new sanctions will be a wider ban on the provision of European services to Russia.  The list of banned…

United States warrant for seizure of airplane of sanctioned Russian oligarch Andrei Skoch

Aug 8, 2022. The United States of America has been authorized to seize an Airbus A319-100 (the Airbus) owned and controlled by sanctioned Russian oligarch Andrei Skoch, pursuant to a seizure warrant from the U.S. District Court for the Southern District of New York, which found that the airplane is subject to seizure and forfeiture based on probable cause of…

Only half of G20 support US-led drive to isolate Russia and China -Bloomberg

Aug 5, 2022. The US-Led Drive to Isolate Russia and China Is Falling Short While the US and its allies have sanctioned Russia for its invasion of Ukraine, half of the countries in the Group of Twenty have not signed up. When Group of Seven leaders gathered in the Bavarian Alps in June, they pledged to stand with Ukraine for…

EU’s 6th package of anti-Russian sanctions: oil embargo, banking bans, media bans

Jun 27, 2022. The European Union’s governing body has published a list of new sanctions against Moscow, accusing Russia of a “continuing war of aggression against Ukraine.” The sixth batch of restrictions since February contains a phased embargo on oil imports, restrictions against some Russian banks and broadcasters, and the blacklisting of people Brussels accuses of war crimes. The Council…

Russia cuts off more gas supplies to Europe

2022-06-01. Russia is cutting off more gas supplies to Europe. On Tuesday, the state energy company Gazprom cut off some gas to the Netherlands, Denmark and Germany. This came hours after the EU banned most Russian oil imports. (Democracy Now) Denmark Denmark’s largest energy company said Russia cut off its gas supply Wednesday because it refused to pay in rubles,…

Germany to face wave of bankruptcies amid inflation and Ukraine sanctions

May 9, 2022. The future of Commerzbank’s business in Russia will depend, among other things, on Russia’s behavior and further sanctions, according to Handelsblatt report. Germany’s Commerzbank is preparing for more businesses to fail in Europe’s biggest economy amid high inflation and economic perils exacerbated by Russia’s war in Ukraine. The lender expects provisions for loan losses to rise as…

EU drops plans to ban shipping Russian oil

May 9, 2022. Brussels has shelved its plans to ban the EU shipping industry from carrying Russian crude as it struggles to push through its latest sanctions package because of anxiety among some member states about the economic impact of the measures. A proposal targeting shipping that was introduced last week has been dropped by the European Commission following hard…

Data Leak: How Criminals, Officials, and Sanctioned Politicians Poured Money into Dubai Real Estate

May 7, 2022. A new leak of Dubai property data has exposed just how many foreigners have poured their money into apartments and villas there. The data, which dates from 2020, was obtained by the Center for Advanced Defense Studies (C4ADS), a non-profit organization based in Washington, D.C., that researches international crime and conflict. It was then shared with Norwegian…

6 Russian oligarchs have died in alleged suicides this year

Two Russian oligarchs were found dead last week, within 48 hours of each other. They were found alongside their families in what investigators are labelling murder-suicides. Since the start of 2022, four other Russia-connected oligarchs have mysteriously died by suicide. Here is a list of the Russian oligarchs who have met a mysterious end in 2022 — so far, as…

Russia cuts off gas to Poland and Bulgaria. Who in Europe is next?

Vladimir Putin announced last month that if “unfriendly countries” wanted to continue buying Russian natural gas, they would have to pay in rubles starting April 1. It seems not everyone believed he was serious. Would Russia really turn away profit by refusing payment in other currencies? Apparently so. Many media outlets are calling the move a ‘weaponization’ of the gas…

The most hated cryptocurrency: Why are people flocking to Monero?

Monero, traded as ticker XMR, seems to be the only cryptocurrency able to escape the solid downtrend lately and the approaching hard fork is not the only cause. While it is a definite motivator, there are at least four additional main reasons. The first is obviously the new trend in sanctions. 1. The sanctionsFirst, the west has essentially sanctioned anyone…

The sanctions smoke screen: ongoing business partnerships the press missed

You don’t want to call sanctions a hoax because they legitimately put compliance pressure on our businesses and people. But do they put any pressure on the actual targets? It’s part of our news cycle and even our language to think so. After all, what is a “sanction” if not a punishment for breaking the rules? In a move that…