Imposition of US Sanctions Against Russia

Sanctions against Russia by OFAC have secondary consequences for financial institutions. In case of facilitation of significant transactions for or on behalf of SDN-listed persons, the facilitating bank may lose its correspondent relation with US financial institutions.

Save the Date!
Are you doing business with Russia? Philip Sidney will conduct a workshop on 24th & 25th April 2019 hosted by Evofenedex on do’s and don’ts of doing business with Russia in relation to export controls. For registration please send your full name and position together with your company name to Jaap van Dijk.

On 17 March 2014 the EU & US imposed travel bans and asset freezes against persons involved in actions against Ukraine’s territorial integrity under ukraine/russia sanction programmes. On 6th April 2018, the US Treasury Designated Russian Oligarchs, Officials and Entities, in Response to Worldwide Malign Activity under its ukraine/russia sanction programme. On October 19th, OFAC announced the temporary extension of general licenses related to certain entities which are sanctioned under Ukraine/Russia Sanctions Programmes.

Magnitsky Act

The recent Danske bank scandal, particularly the activities of its Latvian branch, has made European Union to take concrete actions. On 10 December 2018, EU foreign ministers discussed a Dutch … Read more

Will the EU “SPV” survive Iran Deal?

On 19th October 2018 the FATF decided to continue the suspension of counter-measure on Iran, due to the political commitment and relevant steps Iran has taken since June 2016 to … Read more

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