UK Govt publishes ‘The Economic Crime Act 2022’

Civil monetary penalties can be applied to persons for breaches of financial sanctions with no requirement for the Treasury to prove that the person had knowledge or reasonable cause to suspect their activity breached sanctions…

EC publishes Q&A on latest sanctions

Sanctions are targeted at the Russian economy, the Kremlin, its power base and those involved in Russia’s unprovoked war against Ukraine. They aim to impair the Russian government’s ability to finance its war against Ukraine and are calibrated to target...

EU adopts 6th package of sanctions against Russia

The package contains a complete import ban on all Russian seaborne crude oil and petroleum products. This covers 90% of our current oil imports from Russia. The ban is subject to certain transition periods to allow the sector and global markets to adapt…

US Treasury on Putin and Russia’s elites

OFAC is taking further action to degrade the key networks used by Russia’s elites, including President Vladimir Putin, to attempt to hide and move money and anonymously make use of luxury assets around the globe…