30 januari 2018
On 26 January 2018, the United States ("US") Department of the Treasury's Office of Foreign Assets Control ("OFAC") designated 21 individuals and 9 entities under the US Russia sanctions regime. The designations include three individuals and two entities related to Russia's transfer of four turbines made by a Russian-German joint venture to Crimea.
22 december 2017
On 17 December 2017, an Australian man was charged for violating the United Nations ("UN") and Australian North Korea sanctions regime. According to the Australian Federal Police ("AFP"), the man acted as an economic agent for the Government of North Korea in Australia. The AFP have alleged, that he was involved in brokering the sale of missiles and missile components and expertise from North Korea to other international entities and attempting to transfer coal from North Korea to entities in Indonesia and Vietnam.
22 december 2017
On 15 December 2017, mr. A. Soofi ("Soofi"), a Canadian-Iranian dual national, was sentenced to 32 months in prison for violating the International Emergency Economic Powers Act (IEEPA). Soofi already pleaded guilty to one count of conspiracy to violate the IEEPA on 7 September 2017.
21 december 2017
On 6 December 2017, Dentsply Sirona Inc. ("Dentsply"), a US company specialising in dental solutions, agreed to pay the Office of Foreign Assets Control ("OFAC") USD1,220,400 in order to settle its potential liability for apparent violations of the United States ("US") Iran sanctions regime. OFAC determined, that between November 2009 and July 2012, Dentsply committed 37 violations of the Iranian Transactions and Sanctions Regulations. According to OFAC, during this period indirect subsidiaries of Dentsply had
15 december 2017
Yesterday, 14 December 2017, at an EU summit, the EU leaders agreed to another six months extension of the EU sanctions regime against Russia, as laid down in EU Regulation 833/2014. This regulation concerns measures related to the export of certain goods (dual-use and military items and equipment for the oil and gas industry) as well as financial sanctions. The current sanctions will expire in July 2018 unless renewed in time. We will keep you updated. Meanwhile, should you require further information in relation
24 november 2017
On 23 November 2017, a Dutch court fined Dutch transporting company U-Freight Holland B.V. EUR 50,000 for transiting military items to Russia. The director of the company was also prosecuted, but was acquitted as he was unaware of the transactions. On 17 March 2017, the Dutch company forwarded 2 defect radar systems from the Malaysian military via the Netherlands to Russia for repair. The freight was stopped at Dutch customs because, under the current European sanctions, which contain an arms embargo, it is
23 november 2017
On 17 November 2017, BCC Corporate SA (BCCC), a Belgium-based credit card issuer and corporate service company, agreed to pay USD 204,000 in order to settle its potential liability for apparent violations of the US Cuba sanctions regime. The Office of Foreign Assets Control ("OFAC") determined, that between April 9, 2009 and February 3 2014, BCCC committed 1,818 apparent violations of the Cuban Assets Control Regulations, 31 C.F.R. part 515 ("CACR"). At the time of the violations, BCCC was a wholly owned