US banks were caused to process tens of millions of dollars in schemes to evade sanctions and export controls applicable to Russia according to an indictment charging five Russian nationals and two oil traders with global sanctions evasion and money… Read More ›
Russia’s Agency for Export Credit and Investment Insurance (EXIAR) has signed an agreement with the Export Guarantee Fund of Iran (EGFI) to provide export insurance for sellers in both countries. Export insurance provides an alternative to letters of credit (L/Cs)… Read More ›
Gazprombank could be a prime target in a new batch of European Union (EU) sanctions on Russia expected in response to Moscow’s mobilisation decree to conscript 300,000 reservists into the Russian army and referendums in areas the union sees as… Read More ›
The banking and financial services sectors have been “enormous partners” throughout the information sharing effort to combat Russian sanctions evasion according to the US justice department’s director of Task Force KleptoKapture, Andrew Adams. Now, he says, the department wants to… Read More ›
Sanctions against Russia are here to stay for the foreseeable future, even if a ceasefire agreement were to be reached in the Ukraine war, according to global head of maritime trade technologies & ESG at Pole Star, Simon Ring. In… Read More ›
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… Read More ›
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… Read More ›
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… Read More ›