OTHER THINGS YOU MAY HAVE MISSED – MARCH 5

Panama Covid-19 update – active case numbers continue to fall, down over 300 today to 3,912, although 2 more patients in ICU at 26, with 144 in other wards. 426 new cases and 4 new fatalities were also reported.

5 MARCH 2022

PANAMA: ODEBRECHT RENEGES ON BRIBERY DEBT PAYMENT

On 4 March, Newsroom Panama reported that Odebrecht has again breached the terms of the agreement to return $220 million to Panama, stemming from a bribery case from during the Ricardo Martinelli administration (2009-2014).  Since 2017, it has paid $52 million. 

https://www.newsroompanama.com/opinion/odebrecht-reneges-on-bribery-debt-payment

EU TIGHTENS BELARUS SANCTIONS

On 4 March, White & Case published an article about a wide-ranging package of new sanctions against Belarus in response to its involvement in Ukraine. It notes that previous “grandfathering” clauses allowing the execution of prior contracts involving restricted trade, disbursements under existing loans to listed banks, and the provision of (re-)insurance services to certain parties no longer apply. 

https://www.whitecase.com/publications/alert/eu-tightens-belarus-sanctions-targeting-dual-use-high-tech-mineral-products

FATF URGES PANAMA TO COMPLETE ACTION PLAN AS IT REMAINS ON THE GREY LIST

On 5 March, La Prensa reported that FATF has kept Panama on its grey list, which identifies jurisdictions with deficiencies in the money laundering prevention regime, and again expressed a “significant concern” because the country has not managed to complete the action plan agreed in 2019.  FATF urged Panama “strongly” to quickly demonstrate significant progress by June 2022, warning of further measures.

https://www.prensa.com/impresa/panorama/gafi-insta-a-panama-a-completar-plan-de-accion-el-pais-sigue-en-la-lista-gris/

https://www.laestrella.com.pa/economia/220304/gafi-le-da-ultimatum-panama-demostrar-avances-plan-accion-junio-2022

THIRD COUNTRIES ALIGN WITH EU SANCTIONS ON RUSSIA OVER UKRAINE

On 4 March, an EU news release advised that North Macedonia, Montenegro, Albania, Bosnia and Herzegovina, Iceland, Liechtenstein, Norway, and Ukraine have pledged to align their sanctions regime with that of the EU in EU Council Decision (CFSP) 2022/346.

https://www.consilium.europa.eu/en/press/press-releases/2022/03/04/declaration-by-the-high-representative-on-behalf-of-the-eu-on-the-alignment-of-certain-countries-concerning-restrictive-measures-in-view-of-russia-s-actions-destabilising-the-situation-in-ukraine/

Also on 4 March, a further news release advised that North Macedonia, Montenegro, Albania, Bosnia and Herzegovina, Iceland, Liechtenstein and Norway have agreed to align their sanctions measures in line with EU Council Decision (CFSP) 2022/354, which added 22 individuals to the list of persons, entities and bodies subject to restrictive measures set out in the Annex to Council Decision 2014/145/CFSP.

https://www.consilium.europa.eu/en/press/press-releases/2022/03/04/declaration-by-the-high-representative-on-behalf-of-the-eu-on-the-alignment-of-certain-countries-concerning-restrictive-measures-in-respect-of-actions-undermining-or-threatening-the-territorial-integrity-sovereignty-and-independence-of-ukra/

IMPACT OF RUSSIAN SANCTIONS ON THE AVIATION INDUSTRY

On 4 March, an article from CMS Law considers measures undertaken by the EU and UK.

https://www.cms-lawnow.com/ealerts/2022/03/impact-of-russian-sanctions-on-the-aviation-industry

REAL ESTATE IMPLICATIONS FOR OVERSEAS ENTITIES OF ECONOMIC CRIME (TRANSPARENCY AND ENFORCEMENT) BILL

On 4 March, an article from CMS Law is concerned with the Bill to set up a Companies House register for beneficial owners of overseas entities that own UK property.  The Bill will also strengthen the regime for Unexplained Wealth Orders.

https://www.cms-lawnow.com/ealerts/2022/03/real-estate-implications-for-overseas-entities-of-economic-crime-transparency-and-enforcement-bill

MALTA: FATF TO CONDUCT ONSITE VISIT BY JUNE

On 5 March, Malta Today reported that FATF will be conducting an on-site visit in Malta by the end of June, following its declaration that Malta had substantially completed its action plan to get off the FATF grey list.

https://www.maltatoday.com.mt/news/national/115397/fatf_to_conduct_onsite_visit_by_june_robert_abela_appeals_for_caution?src=ilaw#.YiNWPavMKUk

WHY RUSSIAN OIL AND GAS IS STILL BEING SHIPPED TO THE US, AND WHO’S BUYING THESE PRODUCTS

On 3 March, a video report from CNBC was tracking where supertankers carrying Russian oil and gas are headed, and who’s buying.

https://www.cnbc.com/video/2022/03/03/why-russian-oil-and-gas-is-still-being-shipped-to-the-us-and-whos-buying-these-products.html

WHAT IS SYNTHETIC IDENTITY FRAUD?

The Makeuseof.com website on 5 March provided a guide to this type of scam and how to avoid it.  It explains that synthetic identity fraud is where criminals use real information to create a fake identity. Instead of posing as someone else, they piece together stolen credentials to pose as someone who doesn’t actually exist. As strange as it sounds, it is said, it’s remarkably common.

https://www.makeuseof.com/what-is-synthetic-fraud/

UK: LEGISLATING ABOUT SANCTIONS

On 5 March, an article from a law professor published by Policy Exchange suggests a way to avoid the seeming delays in the UK imposing financial sanctions on Russian oligarchs as quickly as the US and EU.

https://policyexchange.org.uk/legislating-about-sanctions/?src=ilaw

UK: FORCES ACROSS THE NATION CRACK DOWN ON METAL CRIME

On 4 March, the National Police Chiefs’ Council reported that police forces across the nation visited over 600 premises and made 30 arrests as part of a 7-day crackdown on metal crime and money laundering in the waste industry.  British Transport Police (BTP) coordinated the operation, codenamed Goldjuno.  It noted that catalytic converters, which clean harmful gases before they exit a vehicle’s exhaust pipe, are often targeted by thieves because of the precious metal they contain – with over 38,000 catalytic converter thefts were recorded in the UK last year.

https://news.npcc.police.uk/releases/forces-across-the-nation-crack-down-on-metal-crime

WHAT DOES IT MEAN FOR A YACHT TO BE SEIZED?

An article in Superyacht News on 3 March posed this question, saying that several high-profile yachts do now appear to be held within EU ports in line with the latest EU sanctions against Russia.

https://www.superyachtnews.com/business/what-does-it-mean-for-yacht-to-be-seized

THE TURKISH WAY OF DRONE WARFARE

On 4 March, the Atlantic Council published a paper saying that, in the eyes of Turkish defence planners, drones are not merely targeted killing or “war on terror” assets, but crucial components within a network-centric architecture. This paradigm extends to a wide range of tasks, from anti-armour salvos to the suppression of enemy air defences.  The paper says that Turkey has introduced various innovative concepts of operations, which have visibly paid off in a broad frontier including Libya, Syria, and Karabakh.  Of particular importance to NATO, and resembling the Arab-Israeli wars of the Cold War era, Turkey’s robotic-warfare solutions have proven to be effective against Soviet-Russian weaponry – and that the unfolding Russo – Ukrainian War, at the time of writing, comes as the latest case.

https://www.atlanticcouncil.org/wp-content/uploads/2022/03/Techno-Geopolitics_and_the_Turkish_Way_of_Drone_Warfare.pdf

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymea3coffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: