Russia
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
2023 Americas Annual LC Survey • Executive Summary (Part 2)
For the 31st consecutive year, the Institute of International Banking Law & Practice conducted its Americas Annual LC Survey conference, 8-9 June 2023.
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
December 2022 - ABA/ABA Financial Crimes Enforcement Conference: Executive Summary
24 concurrent breakout sessions addressing a wide range of specific areas impacting financial crime enforcement, and breakfast and luncheon presentations.
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
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
EU Sanctions Sberbank
Russia’s largest bank, Sberbank, was designated by the European Union in its seventh package of sanctions against Russian persons
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
