The EU levied a seventh round of sanctions against the parties responsible for the continuing violence and human rights violations in Myanmar, the European Council announced July 20. The designations target union ministers for immigration and population, labor, and health and sports; two members of the State Administration Council; and the quartermaster general. The lone sanctioned entity is No. 2 Mining Enterprise, a state-owned company generating revenue for the Myanmar Armed Forces, the council said. The sanctions regime now covers 99 people and 19 entities.
The European Council in a July 20 notice extended the sanctions framework on Lebanon for another year. The restrictions will now expire July 31, 2024. The framework allows for the imposition of sanctions on people and entities responsible for "undermining democracy or the rule of law in Lebanon" by obstructing the political process, undermining the implementation of plans approved by Lebanese authorities or "serious financial misconduct."
The EU last week sanctioned 18 people and five entities under its Global Human Rights Sanctions Regime due to their human rights violations in Afghanistan, South Sudan, the Central African Republic, Ukraine and Russia.
The European Council on July 20 established a new framework for sanctions following Iran's support of Russia's war in Ukraine. The regime bars the export from the EU to Iran of parts used in the construction and production of unmanned aerial vehicles while also providing for sanctions against people responsible for Iran's UAV program, the council said. It also added six Iranian people, all of whom are currently listed under two existing sanctions regimes, for their roles in Iran's support of both Russian and Syrian aggression.
The Federal Reserve Board on July 19 fined Deutsche Bank, its New York branch and other U.S. affiliates $186 million for violating two consent orders with the bank dealing with sanctions compliance and anti-money laundering controls. The board said Deutsche Bank "made insufficient remedial progress" under the two orders and had insufficient "anti-money laundering internal controls and governance processes" stemming from its past relationship with the bank's Estonian branch.
The Senate last week approved an amendment to its version of the FY 2024 National Defense Authorization Act that would restrict certain U.S. petroleum exports from being shipped to certain foreign “adversaries.” The amendment, which was approved 85-12, would specifically prohibit U.S. Strategic Petroleum Reserve sales to any entity “under the ownership or control” of the Chinese, Russian, North Korean or Iranian governments, with certain exceptions for national security reasons.
A Senate bill with bipartisan support could continue U.S. sanctions on Iran’s missile and drone program after the potential October sunset of U.N. Security Council restrictions against that country. The Making Iran Sanctions Stick in Lieu of Expiration of Sanctions Act, introduced by Sens. Bob Menendez, D-N.J., and Bill Hagerty, R-Tenn., would ensure that Iran’s missile development activities remain subject to “appropriate U.S. sanctions in the likely event that Russia and China block an extension of UN restrictions in the Security Council” later this year.
Sanctions compliance officers working in the maritime shipping industry should pay particularly close attention to registered ship owners operating single-ship fleets, which could signal a ship attempting to evade sanctions, said Byron McKinney of S&P Global Market Intelligence. McKinney said he’s seen a spike in single-ship fleets -- which are used in some cases to obscure the true ownership of a vessel -- since the Treasury Department published its maritime sanctions advisory in 2020.
The Bureau of Industry and Society last week issued guidance for license applicants seeking to export medical-related items to Russia, Belarus or certain occupied regions of Ukraine, outlining best practices for submitting applications and what information should be included. BIS urged exporters to “provide all the necessary information when the application is first submitted” so the agency can “promptly analyze the proposed scope of the transactions” before submitting it for interagency review, and the agency detailed what types of applications may lead to delays.
The U.K.'s Office of Financial Sanctions Implementation added five entries to its Sudan sanctions regime, one to its Mali restrictions list and seven under its Central African Republic sanctions regime in a series of three July 20 notices.