Canada Sanctions Streit Group
Canada has officially imposed sanctions on Streit Group, an armored vehicle manufacturer based in the UAE. Streit Group is run by Guerman Goutorov, a Canadian-Russian businessman. The company is accused of supplying its manufactured armored vehicles directly to Russia’s National Guard (Rosgvardia). Canadian Foreign Minister Anita Anand stated that the sanctions are designed to cut […]
U.S. sanctions 29 companies in China, Turkey, and UAE over Iran military support
The U.S. government announced a major expansion of its sanctions, adding 29 entries (26 entities and three addresses) to the Commerce Department’s Bureau of Industry and Security (BIS)’s restricted entity list. The sanctions target companies in China (15 firms), Turkey, and the UAE, which the U.S. accuses of providing illicit support to Iran’s military and […]
US hits Hong Kong and UAE firms with new round of Iran-related sanctions
The United States unveiled another round of sanctions targeting 10 individuals and 27 entities tied to Iran’s financial network, spotlighting the crucial financial role it believes Hong Kong and the United Arab Emirates play to help Tehran avoid Washington’s efforts. Aimed at Iranian nationals and a mainland Chinese national as well as Hong Kong and […]
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 […]
UAE sanctions bank for failing to comply with anti-money laundering policies
The Central Bank of the UAE (CBUAE) has imposed a financial sanction on a bank operating in the country for failing to comply with policies and procedures related to anti-money laundering and combating the financing of terrorism and illegal organisations. The penalty comes pursuant to Article (14) of the Federal Decree Law No. (20) of […]
US issued Iran related sanctions against China
United States imposed sanctions on entities and individuals in Iran, the UAE and China. The US accuses these entities being part of an Iranian weapons procurement network. The U.S. Treasury Department announced sanctions on six entities and two individuals in action taken in coordination with the Department of Justice, accusing them of responsibility for procurement […]