by Jyotsna Bucktowar | Jun 4, 2024
Russian President Putin issued Decree No. 442, establishing a mechanism to seize US assets within Russian territory and compensating the Russian Federation and Central Bank for losses caused by US decisions…
by Jyotsna Bucktowar | May 28, 2024
Any act which would otherwise breach the prohibitions in Regulations 11 to 15, 17 and 17A of the Russia Regulations is exempt from those prohibitions to the extent required to give effect to the permissions in this licence.
by Jyotsna Bucktowar | May 25, 2024
OFSI reissued General Licence under Regulation 64 of The Russia (Sanctions) (EU Exit) Regulations 2019 which is subject to certain conditions which allows a person to make use of the retail banking services of a designated Credit or Financial Institution provided that...
by Jyotsna Bucktowar | May 13, 2024
OFAC issued General License 8I pursuant to Russian Harmful Foreign Activities Sanctions Regulations (“RuHSR”), 31 CFR part 587. General License 8I was issued to extend the authorization of energy-related transactions to November 1, 2024 for transactions that involve...
by Jyotsna Bucktowar | May 2, 2024
The Bankfailed to submit 20 suspicious transaction reports (STRs) out of 178 case files reviewed where there were reasonable grounds to suspect that one or more transactions were related to the commission or attempted commission of a money laundering (ML) or terrorist...
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