Sanctions


Huaweibldg

U.S. could ban all Huawei products

2019-05-16T19:59:00+01:00By

New moves from the Commerce Department suggest a full domestic ban on products from the Chinese telecom giant Huawei are forthcoming.

WorldBank

World Bank Group debars Sieyuan Electric

2019-05-14T17:07:00+01:00By

The World Bank Group has placed a 15-month debarment on Shanghai-based Sieyuan Electric relating to fraudulent practices under the Inter-Zonal Transmission Hub Project.

BankAustria

UniCredit Group Banks to pay $1.3B for sanctions violations

2019-04-17T20:03:00+01:00By

UniCredit Group Banks will pay total financial penalties of approximately $1.3 billion for processing hundreds of millions of dollars of transactions through the U.S. financial system on behalf of an entity designated as a weapons of mass destruction proliferator and other Iranian entities subject to U.S. economic sanctions, the Department ...

StandardCharteredFeature

Standard Chartered Bank to pay $1.1B for sanctions violations

2019-04-09T20:20:00+01:00By

Standard Chartered Bank, a U.K.-based financial institution, will pay a total of $1.1 billion in a global settlement for sanctions violations.

InternalAudit

New, tough regulator to oversee U.K. audit

2019-03-11T15:04:00+00:00By

The U.K. Financial Reporting Council will soon be replaced by a new regulator acting on recommendations from Sir John Kingman of the London Stock Exchange. The government hopes to ensure the United Kingdom going forward has “a world-class audit and accounting regulator.”

Huawei

Huawei sues U.S. gov. for ‘unconstitutional sales restrictions’

2019-03-07T20:42:00+00:00By

Controversial tech giant Huawei has filed a complaint in a U.S. federal court that challenges the constitutionality of government restrictions on its products.

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E3 moves to circumvent U.S. sanctions on Iran

2019-02-21T10:30:00+00:00By

The E3 has set up a special trade channel designed to allow companies in the European Union to circumvent U.S. sanctions in an effort to continue humanitarian trade with Iran.

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New system opens up EU business trade with Iran

2019-02-05T15:00:00+00:00By

The United Kingdom, Germany, and France have created a new payments system to allow European businesses to trade with Iran without falling foul of U.S. sanctions.

PDVSA

U.S. Treasury sanctions Petroleos de Venezuela

2019-01-29T11:30:00+00:00By

The Department of the Treasury’s Office of Foreign Assets Control has designated Venezuelan state-owned oil company Petroleos de Venezuela under Executive Order 13850 for operating in the oil sector of the Venezuelan economy.

USRussia

Treasury lifts sanctions on Rusal, En+, ESE

2019-01-29T11:15:00+00:00By

The U.S. Department of Treasury announced that it has lifted sanctions on three companies controlled by Russian oligarch Oleg Deripaska: power company EuroSibEnergo, aluminum producer UC Rusal, and Rusal’s parent company, En+ Group. Following this news, En+ Group announced an overhaul of its board of directors.

Huawei

Huawei Technologies and U.S. affiliate indicted for theft of trade secrets, wire fraud

2019-01-29T10:00:00+00:00By

In court documents unsealed Jan. 28, a grand jury this month returned a 10-count indictment by two affiliates of Chinese telecommunications conglomerate Huawei Technologies for theft of trade secrets, wire fraud, and obstruction of justice.

Waters

Waters builds new agenda for Financial Services Committee

2019-01-22T09:30:00+00:00By

With new leadership, Rep. Maxine Waters (D-Calif.), the House Financial Services Committee is setting its agenda for the new session of Congress.

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Leveraging data and technology for sanctions compliance: OFAC’s '50 Percent Rule'

2019-01-03T11:45:00+00:00Provided by

Complying with the U.S. Treasury’s Office of Foreign Assets Control (OFAC) regulations on sanctions against foreign entities requires much more than checking a list of restricted companies and individuals.

TreasuryAnnex

OFAC to lift sanctions on three Russian companies

2018-12-28T11:45:00+00:00By

The U.S. Department of the Treasury’s Office of Foreign Assets Control notified Congress on Dec. 19 of its intention to lift sanctions imposed on three Russian companies.

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As tensions grow, so do China-related compliance risks

2018-12-17T12:45:00+00:00By

Tariffs, trade secrets, and arrests fuel high-risk scenarios for companies that do business with organizations in China.