CBUAE imposes sanctions on five insurance brokers over anti-money laundering failures
Two fined, three warned for breaching anti-money laundering and terrorism financing rules. Dubai: The Central Bank of the UAE (CBUAE) has imposed administrative and financial sanctions on five insurance brokers operating in the country for failing to comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. The penalties were issued under Article (14) of […]
Hungary Objects to Proposed EU Sanctions on Lukoil Dubai Unit
Hungary raised objections to a European Union proposal to sanction Litasco Middle East DMCC, a Dubai-based trading unit of Russian oil giant Lukoil PJSC, according to people familiar with the matter. According to Bloomberg, EU envoys started debating this week the bloc’s plans for a new package of sanctions on Russia over its full-scale invasion […]
US sanctions Chinese refinery, oil firms over Iran oil shipments
The United States on Thursday sanctioned a China-based independent “teapot” refinery and three oil terminal operators for helping deliver hundreds of millions of dollars’ worth of Iranian oil, according to the State Department. This is the US’ third action against a China-based independent teapot refinery since President Donald Trump revived his “maximum pressure” campaign against […]
U.S. Sanctions Related to Iranian Nuclear-Related Research with Potential Military Applications
The Department of State sanctioned three Iranian nationals and one Iranian entity with ties to Iran’s Organization of Defensive Innovation and Research, which is known by its Persian acronym, SPND – the direct successor organization to Iran’s pre-2004 nuclear weapons program, also referred to as the Amad Project. As in the announcement all individuals sanctioned […]
UK sanctions 100 dark fleet tankers
United Kingdom has sanctioned 100 tankers in what it has been called its biggest ever package of sanctions against Russia’s dark fleet. With these new sanctions, the UK says it has sanctioned more dark fleet vessels than any other country. Alongside those vessels targeted are several businesses, including Ro Marine and Soglasie. Ro Marine has […]