April Sanctions News

The world of Sanctions has always been dynamic. In recent months we have seen significant developments that influence companies' operations. Compliance Officers and Chief Compliance Officers must understand the most significant developments in the Sanctions landscape, both at the designation level and intentions and objectives. This knowledge can bring long-term value to organizations.

This series of monthly update articles will summarize the most noteworthy events in Sanctions in the last month, with links to primary sources for further research.

In April, we have seen the following events:

2 April 2023

France added individuals to its list of sanctions targets under the country's autonomous counter-terrorism sanctions program. (source)

5 April 2023

OFAC imposed asset-freeze sanctions on the former President of the Haitian Chamber of Deputies under the U.S. Global Magnitsky program. (source)

The United States forfeited USD 826,000, which was used to export a dual-use item to Russia via Latvia. (source)

6 April 2023

OFAC and BIS announced coordinated enforcement actions against Microsoft for $3,327,896.86 (source)

12 April 2023

In concert with OFSI, OFAC imposed asset-freeze sanctions on 34 individuals, 91 entities, and 19 vessels under the U.S.-Russia sanctions program. (source)

18 April 2023

The United States and the United Kingdom took joint action against a Hizballah financier, Nazem Said Ahmad, and his network. (source 1, source 2, and source 3)

19 April 2023

Former Venezuelan National Treasurer and her husband were sentenced in a money laundering and international bribery scheme. (source)

21 April 2023

The Russia (Sanctions) (EU Exit) (Amendment) Regulations 2023 came into force in GB. (source)

24 April 2023

New sanctions against Iran imposed by:

- Asset-freezing sanctions on four IRGC commanders imposed by the OFSI (source)

- The EU Council sanctioned eight people and one entity for having serious human rights abuses in Iran (source)

- OFAC imposed new blocking sanctions on senior officials in Iran. (source)

26 April 2023

The Czech Republic publishes its National Sanction List and imposes restrictive measures on Russia. (source)

Both the Western Balkans Stabilization Regulations and the Iranian Transactions and Sanctions Regulations have been revised by OFAC. (source)

28 April 2023

The EU Council approved a new framework for targeted sanctions that gives the EU the power to impose penalties on those who aid in or carry out activities that undermine or endanger the Republic of Moldova's sovereignty and independence, as well as its democracy, the rule of law, stability, or security. (source)

Australia's Department of Foreign Affairs and Trade (DFAT) is seeking public input on suggested amendments to the Autonomous Sanctions Regulations 2011. (source)

Stay informed and ahead of the curve in the dynamic world of sanctions.

As a Compliance Officer or Chief Compliance Officer, understanding the latest sanction developments is key to mitigating the risk of non-compliance in your organization.

Don't miss out on our monthly update articles, summarizing the most noteworthy events in sanctions with links to primary sources for further research.

Contact us at info@pst.ag for more information.