The Export Control & Sanctions Watch Edition 19
- Arne Mielken
- May 23
- 5 min read
EU Russia Sanctions Intensify – Trump to ease Syria Sanctions - Iran Missile Network Targeted - EU AML Framework Overhaul continues – UK Financial Sanctions: Licensing
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Colleagues,
Welcome to Edition 19 of Export Control & Sanctions Watch, this edition is packed with must-know updates for and insights for AML, Export controls and sanctions compliance professionals navigating global trade risks.
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Welcome to Edition 19 of Export Control & Sanctions Watch!
Sanctions Updates
The EU has formally adopted its 17th sanctions package against Russia, targeting approximately 150 vessels in Russia's shadow fleet and designating around 60 individuals and entities involved in sanctions circumvention.
The UK has added 82 entities and individuals to its Russia sanctions list in one of the largest single designation actions since the invasion began. The update focuses primarily on Russia's financial services sector.
In a landmark policy shift, the EU Council has announced the lifting of economic sanctions against Syria after more than a decade of restrictions.
The U.S. Treasury has designated two Mexican nationals linked to Cartel del Noreste under counter-narcotics and counter-terrorism authorities, while also removing two individuals from Venezuela sanctions programs.
We also present our 8th part of our UK Sanctions Guide. Moreover, we have exciting training announcements.
AML Compliance Insights
We present a comprehensive analysis of Switzerland's new enforcement action against Julius Baer, fined 4.4 million Swiss francs for AML control deficiencies.
AUSTRAC has ordered an external audit of Mercedes-Benz Financial Services Australia after uncovering significant compliance failures.
Europol-supported authorities dismantled a sophisticated parallel banking network across Austria, Belgium, and Spain, arresting 17 suspects and seizing over €4.5 million in assets.
Export Controls Updates
The UK Parliament has approved new Russia sanctions regulations expanding trade restrictions to include chemicals, plastics, metals, machinery, and synthetic diamonds.
The UK has also announced changes to the F680 process for Ministry of Defence clearance.
The U.S. has issued Iran-related General License Q authorizing limited transactions involving the blocked vessel M.V. Tinos I while located in the United States.
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Extensive Export Control Coverage
If you are exporting to the EU, US, or UK and handle strategic items, dual-use goods, or military items subject to export controls, staying fully up-to-date with US, EU, and UK export control laws and regulations is crucial. We provide export control updates for the EU, UK, and US, covering key regulations such as the EU Dual-Use Regulations, the UK Export Control Order 2008, the US Export Administration Regulations (EAR), and the International Traffic in Arms Regulations (ITAR). All in one magazine - the only update you need to read.
Comprehensive Sanctions Coverage
We provide detailed updates across a wide range of sanctions topics and jurisdictions, including:
EU, UK, and US Policy & Laws
We provide updates on sanction laws, policy changes, and guidelines for the European Union, the United Kingdom, and the United States. Whether the EU is revising its unofficial sanctions guidance or the U.S. is updating EAR or USML lists, we ensure you are kept informed. We also include a link to the original update from the authorities and add an explanatory note to help you grasp the vital context.
Specific Sanctions Topics covered
We offer updates on the newest sanctions imposed by the EU, UK, and U.S. related to specific issues like human rights violations, chemical weapons, anti-corruption, counter-terrorism, drug trafficking, and cyberattacks. These sanctions are organised by "topic" and can affect individuals and entities, including businesses. You will be informed about the reasons for the sanctions and the targets involved. This is an ideal supplement to any sanctions' software you may use. You will also receive official links to the measures, enabling you to quickly access official details and saving yourself the effort of researching them yourself.
Extensive coverage of all sanctioned States.
If you are trading or potentially at risk of trading with sanctioned states, the Export Control & Sanctions Watch is an excellent supplement to any sanctions screening software you use. Reading the Export Control & Sanctions Watch provides crucial background and a thorough overview of changes to sanctions, complete with live hyperlinks and explanatory notes, so you understand who was sanctioned and why. Stay updated on the latest sanctions imposed by the EU, UK, and US affecting Russia, North Korea, Iran, Central African Republic, Myanmar, Syria, Sudan, and many others. For each, we also include a sanctions guide covering the sanctions imposed against a country by the EU, UK, and US.
What else we cover in "The Export Control & Sanctions Watch"
We also provide essential updates on the Uyghur Forced Labor Prevention Act (UFLPA) and its implications, along with comprehensive coverage of AML & Financial Crime regulations, CSDD (Corporate Sustainability Due Diligence) updates, and various Due Diligence matters. This ensures professionals stay informed on the latest developments in anti-money laundering, financial crime prevention, due diligence practices, and forced labor legislation, providing you with the knowledge needed to navigate and comply with evolving regulatory requirements.
Access to Export Control & Sanctions Resource Hubs
Our Resource Hubs offer a wealth of insights, including thought leadership articles, how-to guides, step-by-step guides, FAQs, and more, all tailored to enhance your understanding of export controls and sanctions. This comprehensive content library is available 24/7, providing you with the expertise you need at any time. It's like having an export control professional on speed dial, offering a knowledge hub that answers all your questions and supports you in staying fully compliant with the latest regulatory changes.
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