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Economic Sanctions

Over 40 years of articles and reference material

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OFAC sanctions the Rwanda Defence Force and 4 senior officials for supporting the M23 rebel group in eastern DRC, freezing U.S. assets and blocking aid to curb human rights abuses and regional unrest

March 2, 2026

Treasury designates the Rwandan military and key commanders for providing operational, logistical and material support to the March 23 Movement (M23), a U.S.- and UN-sanctioned armed group responsible for violence and mass displacement in the region. The measures freeze any property within U.S. jurisdiction and prohibit transactions involving the designated parties, with Treasury warning that Rwanda’s support for M23 threatens regional stability and risks escalating the conflict in eastern DRC…

U.S. Treasury proposes rule to sever Swiss bank MBaer Merchant Bank AG’s access to the U.S. financial system over alleged money‑laundering and illicit‑finance ties to Iran and Russia

February 26, 2026

Through a notice of proposed rulemaking under Section 311 of the USA PATRIOT Act, the Financial Crimes Enforcement Network (FinCEN) finds reasonable grounds to designate MBaer as a financial institution of “primary money-laundering concern” and proposes prohibiting U.S. financial institutions from maintaining correspondent accounts for the bank. Treasury states that MBaer has moved over $100 million through the U.S. financial system for illicit actors linked to Russian corruption networks and Iran-aligned terrorist organisations…

OFAC targets 5 senior Nicaraguan officials, freezing their U.S. assets and striking at the regime’s financial, labor, communications, and military apparatus used to repress political opponents 

February 26, 2026

Action targets senior figures leading Nicaragua’s financial-intelligence, telecommunications, labour and military-intelligence bodies for supporting the regime’s campaign against political opponents and civil society. The designations block any property or interests in property within U.S. jurisdiction and prohibit U.S. persons from engaging in transactions with the listed officials, forming part of broader U.S. efforts to hold the Nicaraguan government accountable for human-rights abuses and democratic backsliding…

U.S Treasury designates Russian company Matrix LLC and its associates for stealing and selling proprietary U.S. govt cyber tools, exploiting software vulnerabilities, and threatening national security

February 24, 2026

Action designates Zelenyuk, his firm and several associates for acquiring and selling software “exploits” that enable hackers to gain unauthorised access to systems, including proprietary cyber tools stolen from a U.S. company and later sold for millions in cryptocurrency. The action—taken under Executive Order 13694 and alongside State Department sanctions under the Protecting American Intellectual Property Act—marks the first use of that law to target individuals involved in the theft and commercialisation of U.S. trade secrets that threaten national security…

UK Govt announces its largest sanctions package on Russia, with nearly 300 measures targeting oil revenues, banks, and shadow fleet networks to curb funding for Moscow’s war in Ukraine

February 24, 2026

The UK Government announced nearly 300 new sanctions against Russia on the fourth anniversary of the full-scale invasion of Ukraine, targeting key oil revenues, military supply chains, banks, LNG operators, and 175 companies linked to the ‘2Rivers’ shadow oil network, as well as 48 tankers and the pipeline giant PJSC Transneft, in a bid to further weaken the Kremlin’s war economy and limit its ability to finance the conflict…

OFAC sanctions 3 senior Sudanese paramilitary commanders for orchestrating mass killings, torture, and sexual violence in El-Fasher, freezing their U.S. assets, condemning human rights abuses 

February 19, 2026

The sanctions freeze any U.S. assets of the designated individuals and prohibit U.S. persons from engaging in transactions with them. This action aligns with similar measures by the UK and EU and underscores the U.S. commitment to hold perpetrators accountable amid Sudan’s ongoing civil war, which has caused hundreds of thousands of deaths and displaced millions…

OFAC sanctions a Mexican timeshare fraud network linked to terrorist cartel CJNG, targeting individuals and companies that defrauded U.S. citizens and funneled illicit profits for the cartel

February 19, 2026

The network defrauded U.S. citizens—often targeting vulnerable older Americans—while generating illicit revenue for the cartel, which also profits from drug trafficking, fuel theft, and extortion. This action, coordinated with FinCEN, FBI, DEA, IRS-CI, CBP, and Mexico’s financial intelligence unit, uses Executive Orders targeting terrorists and illicit drugs, and reflects ongoing efforts to disrupt CJNG’s financial networks and protect Americans from long-running, sophisticated fraud schemes…

Council of the EU designates Iran’s Islamic Revolutionary Guard Corps as a terrorist organisation, triggering EU-wide asset freezes and funding bans under its counterterrorism sanctions regime

February 19, 2026

As a result, the EU terrorist list now covers 13 individuals and 23 groups/entities. The listing falls under the EU’s autonomous counterterrorism sanctions regime (Common Position 2001/931/CFSP), which operates separately from the EU framework implementing UN sanctions against Al-Qaida and ISIL/Da’esh, while allowing the EU to independently target organisations involved in terrorism…

OFAC targets a global oil-shipping network moving Iranian crude worth hundreds of millions to fund Iran’s military through front companies and deceptive maritime practices to evade sanctions

February 18, 2026

The action targets companies, vessels, and individuals across multiple jurisdictions, including Asia and the Middle East, involved in front companies, falsified maritime documentation, and deceptive shipping practices used to evade sanctions, as part of broader U.S. efforts to disrupt revenue streams funding Iran’s military programs, proxy groups, and regional destabilizing activities…

OFSI launches call for evidence on how UK sanctions regulations on ownership and control are applied in practice aiming to ensure the regime is clear, effective, and workable – deadline 13 Apr 2026

February 16, 2026

The call for evidence invites firms and stakeholders to provide practical insights on how the ownership and control test is applied, including challenges in assessing “control”, the prevalence of hypothetical control scenarios and the impact on compliance costs, legal risk and business decisions. It aims to inform potential reforms to ensure the test remains effective in preventing sanctions circumvention while improving clarity, consistency and proportionality in how entities owned or controlled by designated persons are identified and treated…

OFAC targets Hizballah-linked actors and entities in Lebanon, including a gold trading network, freezing their U.S. assets to cut off the terrorist group’s funding and operations

February 10, 2026

Action targets gold-trading and commodities networks linked to Hizballah’s financial apparatus, including entities like Jood SARL that convert gold reserves into usable funds and support the group’s cash flow and procurement operations. These sanctions block property and interests within U.S. jurisdiction and prohibit transactions by U.S. persons or with U.S. entities involving the designated operatives, aiming to cut off revenue streams that sustain Hizballah and undermine peace and stability in the region…

EU Commission announces its 20th Sanctions package against Russia, tightening the grip on its economy through oil bans, bank and crypto restrictions, trade curbs, and anti‑circumvention measures

February 6, 2026

The measures include a full ban on maritime services for Russian crude oil, the addition of 43 vessels to the so-called “shadow fleet” list, and further restrictions on tankers and LNG shipments. Sanctions also extend to 20 more Russian regional banks, cryptocurrency platforms, and trade in critical goods, including metals, chemicals, tractors, and cybersecurity technologies, with the EU introducing its first anti‑circumvention tool to prevent re‑exports via third countries. The package complements previous restrictions and aims to further…

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