On 23 August, a Notice from HM Treasury advised that Mikhail Vladimirovich RAZVOZHAYEV has been removed from the sanctions list, the entry for Vladimir Olegovich POTANIN has been corrected and 41 others amended.
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On 23 August, Hellenic Shipping News reported that, after more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk Area’ (HRA), with effect from 1 January. The removal of the HRA reflects a significantly improved piracy situation in the region, largely due to concerted counter-piracy efforts by many regional and international stakeholders. No piracy attacks against merchant ships have occurred off Somalia since 2018.
https://www.hellenicshippingnews.com/shipping-industry-to-remove-the-indian-ocean-high-risk-area/
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On 22 August, Tekemedia reported that recently the regulatory framework on money-laundering around the Money-laundering (Prohibition) Act 2011 and the Terrorism (Prevention) Act 2011 were repealed in favour of a new set of laws. The article provides FAQ on the new provisions.
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On 19 August, an article from Thompson Hine LLP looked at the FAQ addressing potential red flags for diversion concerns. One asks if there any special red flags that should be considered with regard to parties (e.g. integrated circuit designers) on the Entity List. Others ask about commodities potentially diverted to restricted Russian or Belarussian companies. FAQ offer examples of potential red flags of attempts to evade Russia/Belarus sanctions by “illicit actors” who will engage “complicit shippers (or customs brokers)” to obscure a shipment to evade US export controls. BIS has identified several countries as possible transhipment points in efforts to evade these sanctions.
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