Russia
Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch [2023 EWHC 1071]
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 1071 Type of Lawsuit: Subsequent hearing on an ancillary
Energy LEAP Drafts Compliance Clauses for Russian Sanctions
Following coordination of price cap sanctions on Russian origin crude oil and petroleum products first put in place in December
US Agencies Issue Followup Alert on Russian Evasion Attempts
Further to their June 2022 release of a joint alert, US Treasury’s Financial Crimes Enforcement Network (FinCEN) and the
EU Sanctions Used to Enjoin LC
Lummus Technology Heat Transfer B.V. v. Credit Agricole Corporate Investment Bank involves a EUR 5.1 million (USD 6.
English Court Says Sanctions Did Not Prevent Bank from Paying under LCs
Further to previous reporting (“Aviation Company Says Bank Wrongfully Dishonored LCs Backing Russian-Leased Planes”, April 2022 DCW 6), the Commercial
Insurers Contest DAE Claim over Aircraft Stranded in Russia
Lloyd’s of London, AIG, Chubb, Swiss Re, and seven other insurers contend that they are not obligated to pay
2022 ABA/ABA Financial Crimes Enforcement Conference: Executive Summary
For the first time in three years, the American Bar Association and the American Bankers Association (ABA) hosted their Financial Crimes Enforcement Conference in-person, 5-7 December 2022.
Iran, Russia Agree on SWIFT Substitute
With Iranian banks and some Russian banks unable to use SWIFT, the central banks of the two countries signed an
Compelling Compliance Issues Identified and Examined
In a recent discussion of hot-button issues impacting compliance in the US, industry specialists identified and addressed five areas: * the
EU Advises LC Issuers, Others to Conform to Russian Oil Import Prohibitions
On 3 August 2022, the European Union issued notice to operators in which it granted “specific and temporary derogations and
US Agencies Issue Alert on Export Control Evasion Tactics
US Treasury’s Financial Crimes Enforcement Network (FinCEN) and the US Department of Commerce’s Bureau of Industry and Security
No Obstacle to Importing Food from Russia, Says Bangladesh Official
Two dozen unnamed international banks have agreed to confirm LCs supporting grain imports from Russia, according to a 25 Aug
