Day: February 24, 2023
COMPLIANCE ETC: THINGS YOU MAY HAVE MISSED – FEBRUARY 24
The latest Covid-19 statistics have been released, for the week to 18 February, which shows a continued decline in case numbers. In the most recent week there were 356 new cases, compared to 444 the previous one. There were 3 new fatalities (there was just 1 the previous week). 1 person is in ICU, with 42 in other wards (53 last week), and 525 active cases (617 last week).
A news report today says that an alleged Panamanian gang leader arrested in Spain is linked to a 2011 company that exported scrap and ferrous metal to the Netherlands and Colombia.
The media also reports a “dramatic” increase in Ecuadorian migrants crossing the Darién Gap from Colombia, with 100 counted amoung the 6,352 migrants so far this year. The fatal bus crash last week included more Ecuadorians than other nationalities.
Meanwhile, the stand-off between the Government and the mining company continues.
ADDITIONAL US SANCTIONS ON RUSSIA
On 24 February, the US announced further sanctions on Russia, after 1 year since the (continued) invasion of Ukraine. A large number of additional individuals and entities are designated. OFAC also issued 4 General Licenses, and 5 new associated FAQ. OFAC says that it is targeting key sectors, evasion efforts and military supplies.
OFAC: DETERMINATION THAT SANCTIONS PROVISION APPLIES TO THE METALS AND MINING SECTOR OF THE RUSSIAN FEDERATION ECONOMY
On 24 February, OFAC issued a determination that section 1(a)(i) of E.O. 14024 (addresses national security threats posed by specified harmful foreign activities of the Russian Federation) shall apply to the metals and mining sector of the Russian Federation economy; and hence, that any person determined to operate or have operated in this sector shall be subject to sanctions.
UK REMOVES BAGHDADI AL-MAHMOUDI FROM ITS LIBYA SANCTIONS LIST
A Notice from HM Treasury on 24 February advised that Baghdadi AL-MAHMOUDI, a former Prime Minister in Colonel Qadhafi’s Government, had been removed from its sanctions lists.
OUTCOMES OF FATF PLENARY
On 24 February, FATF advised of the outcome of the weeks’ Plenary –
- Suspending Russia’s membership;
- Discussed and adopted the mutual evaluation report on Indonesia and Qatar;
- Removed Morocco and Cambodia from its Grey List;
- Added Nigeria and South Africa to the Grey List;
- In preparation for the next round of mutual evaluations, the 5th round, that will commence in 2024, FATF delegations agreed on the sequence of countries to be assessed during the first year of the assessment cycle;
- Finalised a guidance document which will help countries implement the revised requirements of Recommendation 24 on beneficial ownership;
- Approved a report on disrupting the financial flows from ransomware;
Iran and North Korea remain the only countries on the FATF Black List.
FATF SIGNALS PROGRESS BUT GIBRALTAR STAYS ON ‘GREY LIST’
On 24 February, the Gibraltar Chronicle reported that FATF said Gibraltar had taken steps to strengthen the effectiveness of its regime to tackle money laundering and terrorist financing. However, it said Gibraltar should continue work to show it can pursue confiscation judgments “commensurate with the risk and context of Gibraltar”. It had been added to the list in June 2022.
FATF SUSPENDS RUSSIA AND GREY LISTS SOUTH AFRICA AND NIGERIA
On 24 February, Deutsche Welle reported that South Africa and Nigeria had been added to the FATF “grey list”. It alsosuspended Russia’s membership on the one-year anniversary of its full-scale invasion of Ukraine.
UK: NEW RUSSIA SANCTIONS MEASURES
On 24 February, the Foreign, Commonwealth and development Office issued a news release advising of a new package of sanctions, including export bans on every item Ukraine has found Russia using on the battlefield to date. The new sanctions package also includes an import ban on 140 goods, including iron and steel products processed in third countries, and extension of existing measures against Crimea and the non-government-controlled areas of Donetsk and Luhansk to the non-government-controlled areas of Kherson and Zaporizhzhia.
UK AND ISLE OF MAN: 92 NAMES ADDED TO RUSSIA SANCTIONS AND 1 AMENDED
On 24 February, a Notice from HM Treasury and news release from the Isle of Man advised that 92 names had been added to the list of those subject to sanctions concerning Russia. In addition, 1 existing entry, for UK-based Uzbek national Nigina ZAIROVA has been amended.
The sanctions involve 80 individuals, including 17 executives of Russian state-owned nuclear power company Rosatom; 34 executiveslinked to defence companies Rostec and Almaz-Antey Corporation; 20 executivesof Gazprom and Aeroflot, including Gazprom Chairman Viktor Zubkov; 5 senior Iranian executives of Qods Aviation Industry, the company alleged to manufacture drones used in Ukraine; and Mattias Warnig, CEO of Nord Stream 2.Also included are 12 entities including the Bank St Petersburg PJSC, Bank Uralsib PJSC, Bank Zenit PJSC and MTS Bank PJSC; and 2 subsidiaries of Rosatom.