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New rules for OFSI reporting…

Financial sanctions reporting obligations Reporting obligations measures in The Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2022 and The Sanctions (EU Exit) (Miscellaneous Amendments) (No.2) Regulations 2022 have taken effect. These regulations extend the definition of ‘relevant firms’ that have financial sanctions reporting obligations to cryptoasset exchange providers and custodian wallet providers. The expanded definition […]

EU seeks sanctions enforcement consistency

Sanctions: Council requests European Parliament consent to add the violation of restrictive measures to the list of EU crimes The Council today requested the European Parliament’s consent on a decision to add the violation of restrictive measures to the list of ‘EU crimes’ included in the Treaty on the Functioning […]

Arrests for violating counter narcotics sanctions

Department of Justice U.S. Attorney’s Office Central District of California FOR IMMEDIATE RELEASE Tuesday, June 14, 2022 Latin Music Company Executives Arrested on Federal Complaint Alleging Violations of U.S. Sanctions Related to Drug Traffickers           LOS ANGELES – FBI agents today arrested two music business executives – including the CEO of a […]

Global consistency: Canada adds to Russia sanctions lists, adds import & export bans …

Canada imposes additional sanctions on Russian oligarchs in response to Putin’s continued aggression on Ukraine May 20, 2022 – Ottawa, Ontario – Global Affairs Canada The Honourable Mélanie Joly, Minister of Foreign Affairs, today announced that Canada is imposing new sanctions under the Special Economic Measures (Russia) Regulations in response to Russian President Vladimir Putin’s […]

What’s in a name? OFAC formally renames Ukraine regs and makes some administrative changes

Amendment to the Ukraine-Related Sanctions Regulations and Associated Administrative List Updates 04/29/2022 OFAC is amending and reissuing, in their entirety, the Ukraine-Related Sanctions Regulations, 31 C.F.R. part 589, and renaming the regulations the Ukraine-/Russia-Related Sanctions Regulations. This administrative action replaces the regulations that were published in abbreviated form on May 8, […]