Sanctions alone will not stop Wagner’s African operations or Russian oil trades
The Atlantic Council, the Washington-based nonpartisan think tank and public policy organisation, has published a comprehensive analysis of the Wagner Group that concludes that sanctions have been ineffective at curbing the activities of the private military company based in Russia.
Hong Kong bankers urged to curb dual-use and advanced technology exports to Russia
Bankers in Hong Kong are amongst those in the Asian financial hub to have been asked by US treasury department officials to help identify American-made high-tech items being shipped to Russia according to the Nikkei The US diplomatic effort reflects Washington’s aim to prevent circumvention…
Correspondent bank relations could enhance effectiveness of Russian sanctions
The Centre for Financial Crime and Security Studies at the Royal United Services Institute (RUSI) has published the main findings and conclusions of a roundtable it convened in May 2023 with a dozen experts in the global financial system with both public and private sector…
G7 to discuss trade in Russian-origin diamonds, gold and other metals
Tightening restrictions on trade in Russian-origin diamonds, gold and other metals is expected to feature prominently in discussions amongst leaders of the Group of Seven (G7) nations when they contemplate further sanctions on Moscow at a summit this week. Other topics up for discussion include…
Financial services firms lacking resources and talent to cope with fog of Russian sanctions
Global banks and businesses face unprecedented challenges in applying sanctions, export controls, and prohibitions against providing certain services to Russia since its invasion of Ukraine on 24 February, according to a white paper published by Thomson Reuters. Entitled The fog of sanctions, the paper observes that…
TradeSun’s trade finance compliance platform now integrated with Coriolis’ ESG solution
TradeSun, a trade finance platform that features artificial intelligence technology that augments human behaviour by learning how employees interact with trade finance documents, and Coriolis Technologies, a trade data and analytics provider, have partnered to launch an integrated solution for banks to measure and verify…
Trade finance retaliation warning as concerns mount over Turkey’s deepening ties with Russia
Trade finance for transactions with Turkey could be restricted amidst mounting alarm in western capitals over Ankara’s deepening ties with Moscow forged last week when Turkish President Recep Tayyip Erdogan met his Russian counterpart, Vladimir Putin. The leaders agreed to boost cooperation in trade and…
EU bans Russian gold imports, tightens export controls and restricts shipping
The EU Council has adopted further sanctions against Russia, effectively banning its most significant export after energy – Russian gold. It has also introduced new measures to prevent circumvention of sanctions by ships and extends the list of dual-use and advanced technology items that may contribute…
EU set to join UK, Canada, US and Japan by banning imports of Russian gold
The European Commission (EC) has set out plans to introduce a new import ban on Russian gold to align with the announcement last month that the UK, Canada, US and Japan would do so in an attempt to stem funding for Moscow’s invasion of the Ukraine….
Designated Russian individuals turning to TBML to evade sanctions
Sanctioned Russian individuals are using a range of methods, including trade-based money laundering (TBML), to evade sanctions imposed on them following Russia’s invasion of Ukraine according to financial intelligence sources consulted by the UK’s Joint Money Laundering Intelligence Taskforce (JMLIT). Other methods include using family…
