U.S. Formally Seeks Dismissal of Halkbank Sanctions Case
The U.S. Department of Justice formally asked a federal judge Wednesday to dismiss its criminal case against Halkbank, telling the court it has no intention of prosecuting the Turkish state-run lender.
EU Proposes 21st Russia Sanctions Package, Targeting Banks and Crypto Networks
The European Union has proposed a sweeping 21st package of sanctions against Russia, with a record-setting wave of bank listings at its core and new measures targeting cryptocurrency platforms, oil traders, and shadow fleet vessels.
U.S. Sanctions Cuban President, Castro Relatives in Growing Pressure Campaign
The United States on Thursday imposed sanctions on Cuban President Miguel Díaz-Canel, his wife, several relatives of former Cuban leader Raúl Castro and five Cuban entities, escalating the Trump administration’s campaign to pressure Havana’s political and military leadership.
House Votes to Advance Sweeping Russia Sanctions over GOP Opposition
The House voted Wednesday to take up legislation that would impose sweeping new sanctions on Russia and provide additional aid to Ukraine, as six Republicans and an independent broke with party leaders to join Democrats in forcing the measure to the floor.
Treasury Rejects GAO Findings on Shell-Company Risks Tied to CTA Rollback
A March 2025 Treasury Department rule exempting virtually all U.S. companies from beneficial ownership reporting requirements has created significant gaps in the federal government’s ability to combat shell company abuse, the Government Accountability Office (GAO) has warned in a new report.
OFAC Blacklists Iran’s Largest Crypto Exchange, DRC Rebel Commanders
The U.S. Treasury Department on Tuesday sanctioned Nobitex, Iran’s largest digital asset exchange, accusing the platform of helping Tehran evade sanctions and facilitate terrorist financing and ransomware attacks.
FTI Consulting Pays $1.05mn to Settle OFAC Violations Tied to VTB Bank
FTI Consulting, Inc. has agreed to pay $1,050,000 to settle potential civil liability for apparent violations of U.S. sanctions on Russia’s financial sector, the Treasury Department’s Office of Foreign Assets Control (OFAC) announced Monday.
FCA Sees Industry Weaknesses in Sanctions Due Diligence, Trade Compliance
Financial firms have improved their sanctions controls but persistent weaknesses in due diligence, screening, and asset-freezing controls continue to drive compliance violations, the U.K. Financial Conduct Authority (FCA) said in a multi-firm review published Thursday.
BIS and Banks Will Soon Begin Testing Blockchain-Backed Payments Platform
A landmark public-private initiative convened by the Bank for International Settlements (BIS) and the Institute of International Finance will soon begin testing a tokenized payment platform for cross-border settlements across multiple currencies and jurisdictions.
Russian Airlines Rely on a Shadow Supply Chain for Boeing and Airbus Parts
Russian airlines have largely defied Western sanctions aimed at grounding their fleets by building a shadow supply chain for Boeing and Airbus spare parts routed through India, Turkey, the United Arab Emirates, and Kazakhstan.