The U.S. and the U.K. sanctioned seven members of the Russia-based cybercrime gang Trickbot, the countries announced Feb 9. The restrictions were simultaneously imposed by both countries in the "first wave of new coordinated action against international cyber crime," the U.K.'s Office of Financial Sanctions Implementation said. The designations target Mikhail Iskritskiy, Valentin Karyagin, Vitaliy Kovalev, Maksim Mikhailov, Dmitry Pleshevskiy, Valery Sedletski and Ivan Vakhromeyev.
Despite reports Russia has found ways to evade sanctions and export controls, those trade restrictions are working, experts said during a Feb. 8 panel discussion hosted by the Atlantic Council. At least one official said the sanctions will need continual tuning to remain effective.
The Office of Foreign Assets Control designated nine entities related to the production, sale and shipment of Iranian petrochemicals and petroleum to Asian buyers, including in China, according to a Feb. 9 news release.
The Office of Foreign Assets Control designated two MS-13 leaders in Central America for actions related to drug trafficking and contract killing, according to a Feb. 8 news release.
The Office of Foreign Assets Control this week published a new Russia-related frequently asked question providing guidance on Russian securities transferring through inheritance. FAQ 1113 explains that investment prohibitions under executive orders 14066, 14068 and 14071 don't prevent securities issued by non-blocked Russian entities from transferring to their beneficiaries as long as those transfers are "part of the ordinary course administration of the decedent’s estate," don't "involve an exchange for value," and "have no other sanctions nexus." Blocked securities in an estate, however, remain blocked and require a specific license from OFAC to transfer.
Canada last week announced another set of sanctions against Russia, targeting 38 people and 16 entities involved in “peddling Russian disinformation and propaganda.” Among the designations are state-owned media company MIA Rossiya Segodnya and Nikolay Victorovich Baskov, a popular singer and TV host.
The Office of Foreign Assets Control updated its Russian price cap guidance last week to include information on the recently imposed cap on Russian petroleum products. The measure -- which took effect 12:01 a.m. EST on Feb. 5 -- sets a $45 per barrel cap for petroleum products that trade at a discount to crude, such as naphtha and waste oils, and a $100 per barrel cap on products that trade at a premium to crude, such as motor fuel.
The U.N. Security Council last week amended 29 entries on its ISIL (Da'esh) and al-Qaida sanctions list. The changes revise or include additional identifying information for people and entities associated with the terrorist groups.
The Office of Foreign Assets Control last week revised the entry for one person on its Specially Designated Nationals List who was sanctioned for counter-terrorism reasons. The change updates identifying information for Ali Reza Tangsiri, an Iranian national linked to the Islamic Revolutionary Guard Corps and subject to secondary sanctions (see 1906240046).
Senior Treasury Department sanctions officials traveled to the United Arab Emirates last week to speak with government officials about sanctions evasion and anti-terrorism financing, the agency said in a Feb. 2 news release. Brian Nelson, Treasury’s undersecretary for terrorism and financial intelligence, and Bradley Smith, deputy director of the Office of Foreign Assets Control, spoke about “rooting out evasion of U.S. sanctions, particularly on Russia and Iran,” the agency said. They also discussed the U.S. “commitment to take additional actions against those evading or facilitating the evasion of sanctions.”