Organisation: US Department of the Treasury

Canadian lender faces DOJ probe over AML compliance

29 August 2023

OFAC resolves Iranian sanctions investigation without enforcement

A Michigan food safety and veterinary products company disclosed that the Treasury Department concluded an investigation into potential sanctions violations without taking an enforcement action.

18 August 2023

“Go home and get nothing”: Western companies grapple with Russian exit taxes

Moscow’s draconian regulations force Western companies to sell their Russian assets at an extreme discount and tack on a special tax to the sale. Meanwhile, the US wants companies to apply for a special licence to divest their Russian assets. Lawyers say the conflicting rules are hard to navigate.

11 August 2023

Latest DOJ, Treasury, Commerce guidance implies more than it updates

Lawyers told GIR the latest joint guidance from the agencies backs up recent statements about deepening their collaboration.

28 July 2023

Swedbank “ignored” red flags tied to Crimea payments, OFAC says

The US sanctions enforcer said the bank had all the information it needed to prevent a ship owner from making hundreds of illegal payments to the Russia-annexed peninsula.

21 June 2023

Former Russian bank board members sue US over sanctions listing

Two former board members who left a major Russian bank in protest against the invasion of Ukraine argue that the State Department and the Department of the Treasury violated their due process by unnecessarily delaying their petition to be removed from the sanctions list.

21 June 2023

Sanctions lawyers describe difficult OFAC delisting process

A former Treasury official said individuals fighting their sanctions designations are likely to face disfavourable courts, among other challenges.

25 May 2023

US greenlights auction of Russian oligarch’s $120 million superyacht by Antigua and Barbuda

The 267-foot luxury vessel, which US authorities say belongs to sanctioned Russian billionaire Andrey Guryev, has become a money pit for the island nation due to exorbitant maintenance costs.

22 May 2023

Microsoft to pay $3 million for sanctions, export controls violations

The technology company self-disclosed sales of its products to sanctioned entities in Cuba, Iran, Syria, Russia and Ukraine.

06 April 2023

DOJ, Commerce, Treasury roll out first joint national security guidance

The new compliance note warns companies to be particularly weary of purchases routed through countries or “transshipment points” that are commonly used in schemes to violate Russia and Belarus sanctions.

02 March 2023

Unlock unlimited access to all Global Investigations Review content