DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
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This month we’re digging into the legal, operational, and regulatory tensions at the core of LC and guarantee practice.
US Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Alert on 7 March 2022, advising financial institutions (FIs) to be vigilant against efforts to evade sanctions.
In compliance with applicable sanctions laws and conforming to legal instructions issued by the European Union, SWIFT disconnected selected banks from its financial messaging services in March 2022.
First quarter 2022 financial results released by AerCap, the world’s largest aircraft leasing company, indicate it has recognised a USD 2.4b net charge related to the Russian invasion of Ukraine.
In spite of the ongoing Russia-Ukraine war, Nigeria has re-established its link with Russia for potassium and will take June
Below is a quick list of sanctions imposed upon Russia by the EU, UK, and US regulators.
According to multiple trading sources cited by Reuters, at least three major buyers of Russian oil have been unable to open letters of credit from unnamed “Western banks” to cover purchases on 24 February 2022.
A conviction by a Danish court for violating EU sanctions against Syria has underscored the knowledge governments expect of companies of the end destination of their products.
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