DCW Updates
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
Sri Lanka Banks Again Honouring LCs
After months of depleting US dollar reserves and denial of importers’ LCs amid the country’s dire foreign currency crisis, some Sri Lankan banks have managed to honour LCs.
Indian Import of Train Wheels Produced Prior to Russian Invasion
A small portion of India’s USD 16m import order for 36,000 Vande Bharat train wheels from a Ukrainian
ICC’s C4DTI Ambitious Plan to Accelerate the Digitalisation of Trade
Any government that has trade and economic growth at the heart of its agenda wants international trade to be cheaper,
Trade Finance Compliance Ramifications of Russian Invasion Examined
A recent Paper released by S&P Global Market Intelligence offers insights on developments stemming from the increase in
EU Sanctions Sberbank
Russia’s largest bank, Sberbank, was designated by the European Union in its seventh package of sanctions against Russian persons
Aviation Litigation Takes Off, Aircraft Stranded in Russia
Even in the initial weeks following imposition of sanctions after Russia’s February 2022 invasion of Ukraine, the aviation industry
ICC Opinion TA925rev Finalized
One ICC Opinion, TA925, was discussed at the ICC Banking Commission’s latest quarterly meeting on 12 July 2022 and
In Memoriam: Vincent M. Maulella, the Irrepressible One
Vincent M. Maulella, longtime banker, U.S. Army veteran, and father of four, passed away on 25 June 2022 at
Economic Sanctions: Introducing Uncertainty into Trade Instruments?
Economic sanctions challenge lawyers to navigate compliance and regulatory interpretations. The historical case of Shanning International v. Lloyds TSB Bank highlights the ongoing nature of demand guarantees amidst changing sanctions. Recent US OFAC views also complicate trade finance obligations.
ICC Rules or Practices Revision? Stay Tuned
Regarding possible revision of ICC Rules and/or Practices, the ICC Banking Commission announced on 12 July 2022 that the
