Category: Financial Crime

Regulatory Watch News

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  Treasury Intensifies Sanctions Against Russia by Targeting Russia’s Oil Production and Exports

  OFAC

  January 10, 2025

  WASHINGTON — Today, the U.S. Department of the Treasury took sweeping action to fulfill the G7 commitment to reduce Russian revenues from energy, including blocking two major Russian oil producers. Today’s actions also impose sanctions on an unprecedented number of oil-carrying vessels, many of which are part of the “shadow fleet,” opaque traders of Russian oil, Russia-based oilfield service providers, and Russian energy officials. Today’s actions are underpinned by the issuance of a new determination that authorizes sanctions pursuant to Executive Order (E.O.) 14024 against persons operating or having operated in the energy sector of the Russian Federation economy. These actions substantially increase the sanctions risks associated with the Russian oil trade.

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  Financial sanctions update: Venezuela

  OFSI

  January 10, 2025

  15 entries added to the consolidated list

  On 10 January 2025 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. 15 entries have been added to the Venezuela financial sanctions regime and are now subject to an asset freeze. More information can be found in the notice. OFSI’s consolidated list of asset freeze targets has been updated to reflect these changes.

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  INTERPOL publishes first Silver Notice targeting criminal assets

  Interpol

  January 10, 2025

  LYON, France – INTERPOL has published its first-ever Silver Notice to help trace and recover criminal assets, combat transnational organized crime and enhance international police cooperation. The Notice, requested by Italy, seeks information on the assets belonging to a senior member of the mafia. The Silver Notice is the newest addition to the Organization’s suite of colour-coded Notices and Diffusions, which enable countries to share alerts and requests for information worldwide. It is being launched as part of a pilot phase involving 52 countries and territories, which will run at least until November 2025.