Day: March 20, 2023

NEW IRAN SANCTIONS FROM UK, AUSTRALIA AND EU

On 20 March, the EU Sanctions blog reported that the UK has added 7 people to its Iran (human rights) sanctions list.  The EU has listed the Supreme Council of Cultural Revolution alongside 8 people who are alleged to be responsible for serious human rights violations in Iran.  Australia has designated Safiran Airport Services and 13 people, over their alleged involvement in the production and supply of drones to Russia.  Australia has also listed 14 people and 14 entities alleged to be responsible for egregious human rights abuses and violations in Iran. 

https://www.europeansanctions.com/2023/03/uk-eu-australia-designate-iranian-nationals-entities/

https://www.buymeacoffee.com/KoIvM842y

The FCA has published this report which found that most PBS have assessed the TCSP risk within their own supervised populations as being relatively low.  This is contrary to the National Risk Assessment 2020 (NRA) which categorised TCSP as higher risk.  It says that PBS view company formation as a higher risk TCSP service, but had different views on the higher-risk and lower-risk indicators of TCSP services.  They also did not demonstrate a consistent understanding of TCSP ‘supply chain’ risk.

https://www.fca.org.uk/publication/multi-firm-reviews/opbas-multi-pbs-project-tcsp-risk.pdf

https://www.buymeacoffee.com/KoIvM842y

On 20 March, a Notice from HM Treasury advised that 7 individuals linked to the IRGC have been added to the UK’s Iran human rights sanctions lists.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1143792/Notice_Iran__Human_Rights__200323.pdf

https://www.gov.uk/government/news/uk-sanctions-top-iranian-revolutionary-guard-corps-financiers

https://www.buymeacoffee.com/KoIvM842y

On 14 March, an article from Herbert Smith Freehills LLP was concerned with recent Court of Appeal decision which highlights the principles a court will apply when deciding whether a benefit received by a victim of fraud reduces its recoverable loss.  The Court decided that the claimant’s damages for an unlawful means conspiracy could be reduced to reflect any benefit it had obtained by negotiating a settlement limiting its onward liability to a third party – although on the facts no such benefit had been obtained.

https://hsfnotes.com/cf/2023/03/14/when-will-a-fraud-victims-settlement-of-its-onward-liability-affect-the-amount-recoverable-from-the-fraudster/#page=1

https://www.buymeacoffee.com/KoIvM842y