Citi Hires FinCEN Director Gacki to Lead Sanctions Compliance
The director of the Treasury Department’s Financial Crimes Enforcement Network is leaving the agency to become global head of sanctions at Citigroup.
Sanctions
Iran Deal to Give Tehran Immediate Oil Sanctions Relief, and Waivers for Banks
The Trump administration’s emerging post-war framework with Iran grants Tehran immediate sanctions relief for oil sales upon the agreement’s signing, with accompanying waivers covering banking, transportation, and insurance services needed to complete those transactions.
EU Top Court: OFAC Listing Alone Cannot Justify Refusal of Basic Bank Account
The European Union’s highest court ruled Thursday that a bank may not refuse to open a basic payment account for a consumer solely because the person appears on a U.S. sanctions list, holding that such a refusal is permissible only after an individual assessment of money-laundering and terrorist-financing risk.
U.S. Sanctions Cuba’s State Oil Company as U.N. Flags Rising Child Death Rate
The United States on Thursday sanctioned Union Cuba-Petroleo, Cuba’s state-owned oil and gas company, escalating the Trump administration’s pressure campaign against Havana under an executive order issued last month.
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.
Four Nations Impose Sanctions over West Bank Settler Violence
Britain, Canada, France, and Norway on Tuesday announced coordinated sanctions targeting Israeli networks accused of financing, enabling, and carrying out violence in the Israeli-occupied West Bank.
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.
Cuba to Suspend Visa and Mastercard Payments Following U.S. Sanctions
Cuba will suspend Visa and Mastercard transactions beginning June 6 after a foreign partner that had processed credit card payments on the island decided to curtail operations in response to sweeping new U.S. sanctions.