India digitizes sanctions and approvals
The Ministry of Road Transport and Highways (MoRTH) is making the sanctioning and approval process of national highways paperless. A new standard operating procedure (SoP) has been finalized to speed up the process. The new procedure has been made mandatory for all work carried out through the National Highways Authority of India, state governments, Border […]
He’s now a billionaire criminal
87-year-old Joe Lewis has been sentenced to three years of probation for leaking information. With a fortune of $7.3 billion, Lewis joins the ranks of billionaires who have been convicted of a crime but managed to protect their fortunes. The 87-year-old founder of the Tavistock Group was spared prison time by a federal judge in […]
The EU announced the expected decision: Iran’s Censoring Tech Firm Removed from Sanctions List
Despite protests by Iranian democracy activists, the European Union has removed ArvanCloud, an Iranian technology firm accused of censorship, from its human rights sanctions list. According to the official gazette of the European Union, Arvan Cloud (also known as Abr Arvan; Noyan Abr Arvan Co.; Arwan Company; Arvancloud) has been removed from the sanctions list. […]
Grant Thornton UK LLP sanctioned over pension fund
13 Grant Thornton UK LLP has been sanctioned for failing to comply with the Regulatory Framework for Auditing in its audit of a local authority pension fund for the year ending March 2021. The FRC’s enforcement committee said it found a significant departure from the standards expected of the Registered Auditor and identified failings that […]
The US will impose sanctions on 200 more Chinese chip companies: High-bandwidth memory may also face export ban
An e-mail sent by the US Chamber of Commerce, the largest lobby group in the US, to its members, indicating that High Bandwidth Memory (HBM) exports will also be banned, caused the leak of the sanctions plan. As is well known, the US has been engaged in a chip war with China for several years […]
EU Proposes Sanctions Against Chinese Firms Helping Russia’s War Efforts
The European Union is proposing to impose sanctions on a number of Chinese companies that it alleges helped Russian companies develop drones used against Ukraine. This would require the support of 27 member states. According to documents seen by Bloomberg, the European Commission is also considering restrictions on additional Russian oil tankers to hamper Moscow’s […]
US sanctions Gazprombank and 6 partners
The US Treasury Department announced sanctions against Gazprombank along with 6 of its foreign subsidiaries. In addition to Gazprombank, more than 50 Russian banks with international links were added to the sanctions list to further restrict Russia’s links to the international financial system. Foreign banks are as follows: Luxembourg-based bank GPB International SA, Hong Kong-based […]
The largest sanctions package against Russia’s shadow fleet
The UK has imposed sanctions on 30 ships belonging to Russia’s shadow fleet, said to be carrying more than billions of dollars worth of oil and products. This is the UK government’s largest sanctions package of its kind, aimed at limiting the Kremlin’s ability to finance the war in Ukraine. Only half of these ships […]
UK sanctions on kleptocrats this time
The UK has sanctioned kleptocrats and announced the launch of the Foreign Office’s new campaign against dirty money. ‘Sanctions have been imposed on three notorious kleptocrats who siphoned off their fortunes from their countries, and on their friends, family and fixers who helped them,’ the UK Foreign Office said in a statement. The following statements […]
US Sanctions Busters Spy on Russian UBS Clients
With the takeover of Credit Suisse, UBS also acquired some clients who did not meet its risk or reputation standards. Now, the US authority responsible for sanctions is reportedly asking the major Swiss bank about its Russian clients. OFAC is said to have contacted UBS and asked questions about Russian clients. This is said to […]