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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2024-05-15T20:56:00
Three Russia-based companies and an individual were designated by the U.S. Treasury Department for trying to recapture more than $1.5 billion in frozen shares owned by a previously sanctioned Russian oligarch using a complex evasion scheme.
The Treasury’s Office of Foreign Assets Control (OFAC) designated Oleg Vladimirovich Deripaska in 2018 for his association with the Russian government. The Department of Justice charged Deripaska in 2022 with conspiring to violate and evade U.S. sanctions in violation of the International Emergency Economic Powers Act.
In June 2023, Deripaska planned with Russian citizen Dmitrii Aleksandrovich Beloglazov, the owner of Russia-based financial services firm Titul, to sell Deripaska’s frozen shares in a European company, the Treasury detailed in a press release Tuesday. Soon after, Beloglazov created a subsidiary of Titul, Iliadis, which acquired investment holding company Rasperia in early 2024. Rasperia held Deripaska’s frozen shares.
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2024-11-26T14:53:00Z By Aaron Nicodemus
Hedge fund manager Scott Bessent, named by Donald Trump on Friday as his nominee for Treasury Secretary, has a clear mandate to deregulate the financial markets should he take the helm.
2024-07-24T15:50:00Z By Aaron Nicodemus
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
2024-05-20T15:21:00Z By Kyle Brasseur
IT services company DXC Technology disclosed it received word from the Office of Foreign Assets Control and Bureau of Industry and Security that it won’t be penalized regarding potential Russian sanctions/export control violations it voluntarily self-disclosed in 2022.
2024-11-08T14:43:00Z By Aaron Nicodemus
The U.K. has issued 56 new sanctions against entities and individuals involved with Russia’s war effort, including several private mercenary groups operating in Africa that are connected to the Kremlin.
2024-10-03T16:02:00Z By Ruth Prickett
Global sanctions rules are increasing rapidly, as are tools to detect and punish those who break them. In response, the U.K. government is creating a new Office of Trade Sanctions Implementation to investigate and penalize those who break sanctions rules.
2024-07-31T14:40:00Z By Aaron Nicodemus
Five individuals and seven entities in Iran, China, and Hong Kong have been targeted for U.S. sanctions by the Treasury Department’s Office of Foreign Assets Control for helping to obtain components used in Iran’s missles and drones.
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