Category: Sanctions

In the world of maritime trade, some ships play a dangerous game of hide-and-seek. They rapidly change flags, shift ownership, and even cut their tracking systems mid-voyage. These “dark fleet” tactics are often employed by vessels involved in nefarious activities such as sanctions evasion, arms trafficking or illegal fishing. At first sight, the trail of such ships can appear hard to follow. Yet the evidence is often still there, scattered across open sources. With perseverance, it can be possible to uncover more information about who is behind these shadowy vessels. As an example, we’ll walk you through some of the…

IntroductionThe UK government’s sanctions lists changed to a single list on Wednesday 28 January 2026. UK sanctions designations are now only detailed in the UK Sanctions List (UKSL), published by the Foreign, Commonwealth and Development Office. The Consolidated List of Asset Freeze Targets, which was published for HM Treasury by the Office of Financial Sanctions Implementation (OFSI) is no longer being updated. It is available for reference purposes on its old page. This guidance is to help you understand manage the change, in particular for businesses and industry that regularly use the UK Sanctions List and the OFSI Consolidated List…

Key Takeaways Two major OFAC Penalties: Treasury imposed more than $18 million in sanctions fines this week over prohibited dealings involving designated Russian oligarchs.IPI Partners Case: The private equity firm continued to process capital calls, distributions, and management fees tied to Suleiman Kerimov for four years after his April 2018 designation, resulting in 51 apparent violations and an $11.49 million settlement.Gracetown Violations Deemed Egregious: The New York property manager received 24 monthly payments linked to Oleg Deripaska and waited over 45 months to report blocked property, triggering a $7.14 million civil penalty.Compliance Lessons Emphasized: OFAC warned that firms must look…

In a bid to protect its citizens from human trafficking and cyber scams, South Korea imposed sanctions today on 132 entities and 15 people it said were part of a criminal network based in Cambodia. The government said in a statement that these were its “first-ever autonomous sanctions targeting transnational crime.” The list of sanctioned entities and individuals largely replicated actions by the U.S. and U.K., which together announced a sanctions package last month targeting the “Prince Group Transnational Criminal Organization.” “Among those designated are individuals and entities connected to the Prince Group, which developed and operated massive scam compounds……

For the past eight years, Russia and its fellow U.N. Security Council members have maintained economic sanctions on North Korea over its nuclear testing, including severe restrictions on selling crude oil and refined petroleum exports to the isolated dictatorship. The 2017 sanctions limit total exports of oil products to North Korea to 500,000 barrels per country per year. But an investigation last year by the Open Source Center, a U.K.-based research group, estimated that Russia shipped more than double the annual limit to North Korea over just nine months last year. That investigation was based on satellite imagery that, according…

At the request of the European Public Prosecutor’s Office (EPPO) in Bologna and Naples (Italy), the Italian Financial Police (Guardia di Finanza) in Naples carried out preventive seizures today, in an investigation into a €260 million VAT fraud scheme involving a criminal network alleged to have imported fuel to the Italian market while systematically evading VAT. The seized assets belong to the company owned by the ringleader of the criminal network, an entrepreneur from Campania, who had been convicted at first instance on 15 October and sentenced to eight years in prison and a fine of €8 600, along with…

FSI Annual Review 2024 to 2025: Effective Sanctions The review includes information on: ComplianceCapabilityEnforcementAnnual Frozen Asset Review 2024Frozen Asset In-Year Reporting, February 2022 to August 2025 Article Credit: https://www.gov.uk/government/publications/ofsi-annual-review-2024-25-effective-sanctions

The European Securities and Markets Authority (ESMA) has released its second consolidated report on sanctions and measures imposed across the EU’s financial markets in 2024, and while the pace of enforcement held steady, the price of wrongdoing climbed steeply. Across 29 European Economic Area (EEA) countries, regulators issued 975 administrative sanctions and measures, almost identical to 2023’s 976. But the value of those fines jumped from €71 million to more than €100 million, suggesting national authorities are turning to larger penalties to drive compliance rather than expanding enforcement volume. Once again, the Market Abuse Regulation (MAR) and the Markets in…

China has called on the United Kingdom to immediately drop the newly imposed sanctions against 11 Chinese entities accused of supporting Russia’s energy sector, state news agency CGTN reported Thursday. Beijing protested the designations, stating that the unilateral sanctions “have no basis in international law [and] undermine the legitimate rights and interests of Chinese enterprises,” a spokesperson for the Chinese Embassy in the U.K. said. The appeal comes after London announced on Wednesday what it described as its “strongest” sanctions package to date against Russia, directly targeting oil giants Rosneft and Lukoil. The package also targets individuals and entities allegedly…

CITY OF LONDON–Senior executives from Russia’s mainstream banking sector have joined an avowedly sanctions-proof crypto and payments firm at the heart of the Kremlin’s strategy to disrupt the West, leaked documents show. The documents reveal, in granular detail, the emerging sanctions evasion tactics and election interference campaigns run by fugitive Moldovan businessman Ilan Shor, who is backed by the Kremlin – as well as the significant amount of financial and human resources the 38-year-old tycoon appears to have at his command. Those resources include ex-department chiefs from large banking institutions such as Russia’s Sberbank, state development bank Vnesheconombank (VEB) and…

The U.S. has sanctioned a Chinese oil terminal operator that played a central role in an Iranian sanctions evasion network first exposed by investigative journalists in 2020. The sanctions, announced by the Treasury Department’s Office of Foreign Assets Control (OFAC), targeted multiple individuals and entities accused of helping Iran’s oil and energy sector finance alleged terrorist activities. Among the most prominent is Zhoushan Jinrun Petroleum Transfer Co., Ltd., a private terminal operator based in eastern China’s Zhejiang province. The company is controlled by Herun Group, a conglomerate led by Yu Songbo, once ranked among China’s wealthiest businessmen. The State Department…

According to the investigation, the water treatment equipment was received by Russian oil industry enterprises.The criminal service of the Lithuanian Customs Department reported the detention of 11 people on suspicion of violating the regime of international sanctions against Russia. The agency said in a statement that it had uncovered “a particularly audacious scheme to circumvent international sanctions against Russia”. The operation was carried out in co-operation with law enforcement agencies in Portugal and Bulgaria and in co-ordination with Eurojust and Europol. According to the investigation, the company developed a complex shadow scheme to supply Russia with water treatment equipment intended…

A Belarusian state fertilizer company under European Union sanctions has found a way around the export ban by leasing its production lines to intermediary firms that pose as manufacturers, according to an investigation by the Belarusian Investigative Center (BIC). Some fertilizer produced by the sanctioned enterprise is shipped into the EU through Latvia using documentation that obscures its true origin. A leaked government document obtained by BIC confirms the government’s role in setting up the scheme to help the fertilizer company in “overcoming sanctions.” According to the leaked document, the government-backed scheme involves “special exporters,” which lease production facilities from…

Brussels has approved its most comprehensive sanctions package yet against Russia, marking the 18th wave of EU action since the start of the war in Ukraine. The new measures aim to ratchet up pressure on the Kremlin’s energy revenues, financial lifelines, and military-industrial backbone, while also closing loopholes and clamping down on sanctions evasion through third countries and shadow networks. The package introduces a dynamic new oil price cap, cutting the ceiling for Russian crude from $60 to $47.60 per barrel and tying future adjustments to market averages, ensuring the price remains 15% below the six-month benchmark for Urals crude.…

A business associate of the oligarch Roman Abramovich has failed to overturn sanctions imposed on him after Russia’s invasion of Ukraine, after a supreme court judgment seen as a test case for the UK’s sanctions regime. Eugene Shvidler served on the board of companies owned by the former owner of Chelsea football club and now lives in the US. He was placed under sanctions by the UK government in March 2022 as part of measures to target Russia-linked oligarchs and officials after Vladimir Putin ordered the invasion of Ukraine. Shvidler, who was born in the USSR in 1964, grew up…

The Office of Financial Sanctions Implementation (OFSI) has imposed a £300,000 monetary penalty against Markom Management Limited (MML) for a breach of UK financial sanctions imposed against Russia following the 2014 annexation of Crimea. The breach relates to MML’s involvement in the making of a payment of £416,590.92 to a designated person, who remains subject to an asset freeze under current Russia sanctions. This payment was in breach of the UK sanctions in force at the time in response to Russia’s annexation of Crimea. MML gave instructions to make the payment from another company’s bank account with the knowledge that…

Three years after blacklisting him, the United Kingdom has lifted sanctions on Slobodan Tešić, one of the Balkans’ most powerful arms dealers, Serbian investigative outlet KRIK reported. Tešić remains under U.S. sanctions imposed in 2017 for alleged corruption and illegal arms deals. The British government did not disclose why it removed the restrictions against him last week. The arms dealer was added to the U.K. sanctions list in December 2022 for allegedly bribing Bosnian officials, including the late chief prosecutor Milorad Barašanin and former security minister Selmo Cikotić. The longtime arms broker has denied the accusations, calling them part of…

The U.S. House of Representatives has passed a bill authorizing sanctions against members of the Georgian government who pose a threat to the country’s stability, security, and democratic development. After Congress approved it on Monday, the bill — called the Megobari Act which means “friend” in Georgian — will now move to the Senate for debate and a vote. If approved in the Senate, it will be sent to U.S. President Donald Trump for final approval and signature into law. “The passage of the MEGOBARI Act sends a strong message to the Georgian people that the U.S. supports them as…

Two months after adopting its 16th sanctions package against Russia, the European Union has backed a 17th round on Wednesday, targeting Russia’s so-called “shadow fleet”—a network of vessels used to evade sanctions and export oil to foreign markets. The new sanctions target 194 ships associated with the shadow fleet, 31 arms supply companies involved in circumventing sanctions, and several banks, according to France’s Foreign Minister Jean-Noël Barrot. Media reports say the package will also include “dozens” of additional individuals linked to Russia’s military and security apparatus. They will be added to the nearly 2,400 people and entities already subject to…

A tanker sanctioned by the U.K. for shipping oil on behalf of Russia is owned by the government of Azerbaijan, corporate documents show. Targeting a state-owned tanker was a warning to Azerbaijan at a time when the oil-rich country has been striking energy deals with the European Union, according to Maximilan Hess, an analyst with the Foreign Policy Research Institute, a U.S. think tank. “It is a clear warning shot across the bow that further Azerbaijani-sponsored efforts to support Russian sanctions evasion carries major risks to Azerbaijan’s diplomatic position and potentially wider economy,” Hess told OCCRP. The sweeping sanctions package…

Switzerland has increased the total value of frozen Russian assets by $1.81 billion over the past year, bringing the total to over $8 billion, as authorities continue to enforce sanctions related to the war in Ukraine. US Lawmakers Pass Megobari Act Targeting Threats to Georgia’s DemocracyOfficials with the ruling Georgian Dream party rejected the move, with the mayor of Tbilisi claiming it was a “deep state” plot. US Sanctions Myanmar Militia Tied to Cyber-Scams, Human TraffickingThe Treasury Department said Americans have lost $5.5 billion to scam operations run from Southeast Asia since 2022. Switzerland has tightened its grip on Russian…

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against a network of Houthi financial facilitators and procurement operatives working in coordination with Sa’id al-Jamal, a senior Houthi financial official backed by Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF). This network has procured tens of millions of dollars’ worth of commodities from Russia, including weapons and sensitive goods, as well as stolen Ukrainian grain, for onward shipment to Houthi-controlled Yemen. Additionally, OFAC has identified eight digital asset wallets used by the Houthis to transfer funds associated with their activities. “The Houthis remain reliant…

Dmitrii Ovsiannikov, the former Russia appointed Governor of the illegally annexed Ukrainian city of Sevastopol, has become the first person to be convicted for breaching the UK’s Russia sanctions. Dmitrii OvsiannikovOvsiannikov was found guilty of circumventing sanctions regulations and money laundering after receiving £76,000 from his wife and a new Mercedes from his brother. His brother Alexei Owsjanikow was also found guilty of circumventing sanctions regulations, having made economic resources available to Dmitrii. These are the first convictions for enabling a designated person. In 2016, Russian President Vladimir Putin appointed Dmitrii Ovsiannikov as governor of the city of Sevastopol in…

AU.S. political strategist says an Uzbek businessman asked him to lobby for sanctions against a huge cement manufacturer owned by a political and business rival over the business’s alleged Russia links. Stephen Payne, a top partner in Texas lobbying firm Linden Strategies, says that at his Uzbek client’s behest, he briefed Congressman Wesley Hunt, a Texas Republican, last year about possible sanctions violations by the Uzbek cement company, known as the United Cement Group. Payne, a one-time aide to former President George W. Bush, said he and his staff didn’t urge any specific action, but left it to Hunt and…

An attempt by JPMorgan Chase & Co. to convince Belgian authorities to release about $2.4 billion blocked by Russian sanctions collapsed in court last year, according to the verdict obtained by reporters. The funds owed to JPMorgan, the largest bank in the U.S., remain blocked in Belgium. That’s because they are transactions with the Central Bank of the Russian Federation, which the European Union sanctioned in 2022. The court case, which has not previously been made public, highlights a glaring problem with the sanctions regime imposed by Western countries on Russia following its full-scale invasion of Ukraine. Much of the…

In response to international sanctions, Bidzina Ivanishvili, the billionaire founder and honorary chair of Georgia’s ruling party, has transferred ownership of multiple companies from offshore jurisdictions to Georgia, shielding his assets from global economic exposure. In December, the U.S. sanctioned the powerful tycoon, who is widely seen as the country’s informal ruler, saying he was undermining Georgia’s democracy for the benefit of Russia. Critics accuse the governing Georgian Dream party of becoming increasingly authoritarian and aligned with Moscow, often pointing out that Ivanishvili made his fortune in Russia in the 1990s. On December 31 — just four days after he…

For a car dealership in a country under sweeping economic sanctions, Moscow-based Berg Auto Premium offers a surprisingly wide selection of luxury vehicles. A Rolls-Royce Cullinan, costing nearly $1 million? They’ve got it. A fresh Tesla Cybertruck? Also in stock. A prestigious Porsche Cayenne Coupé? No problem. “We know no borders,” proclaims the dealership’s website, which claims to have over 100 cars available, collectively worth nearly $17 million. In December, an undercover reporter from OCCRP’s partner IStories called the dealership to ask if she could buy a newly made Porsche 911 Turbo — a car that would presumably be hard…

The reports listed here are published as part of a series of sector-specific assessments addressing threats and vulnerabilities relating to UK financial sanctions. This follows OFSI’s commitment under the Economic Crime Plan 2 to publish sectoral sanctions threat assessments, intended to assist stakeholders in key UK sectors as part of a broader risk-based approach to sanctions compliance. Financial Services Threat Assessment Report Article Credit: https://www.gov.uk/government/publications/ofsi-threat-assessment-reports

The UK will develop a new sanctions regime to cripple people smuggling crime rings and starve them of illicit finance fuelling their operations.  The UK will develop a new sanctions regime to cripple people smuggling crime rings and starve them of illicit finance fuelling their operations.  In a major speech tomorrow, the Foreign Secretary will reveal plans to bring forward legislation for a new sanctions regime targeting irregular migration and organised immigration crime to secure UK borders in a decade of national renewal.    As the world’s first standalone sanctions regime dedicated to targeting irregular migration and organised immigration crime,…

The UK has provided £35 million of emergency support to help Ukraine repair its energy grid and support the most vulnerable through a third winter of war, the Prime Minister has announced today. It comes as the UK also reinforces its iron-clad support for Ukraine by launching fresh sanctions targeting Russia’s energy sector. Today’s sanctions target 20 shadow fleet ships carrying illicit Russian oil, including Ocean Faye, Andaman Skies and Mianzimu, which have each carried more than four million barrels of Russian oil in 2024. Key lynchpins in enabling the trading of Putin’s precious oil, 2Rivers DMCC and 2Rivers PTE…

The UK has escalated its pressure on Vladimir Putin, announcing its largest package of sanctions since May. This new wave targets the Kremlin’s sprawling web of military supply chains and the shadowy mercenary groups doing Moscow’s bidding from Ukraine to Africa. With these measures, the UK aims to choke off Putin’s lifelines, hitting Russia where it hurts most: its ability to sustain the prolonged—and increasingly desperate—war in Ukraine. In a statement that underscored the UK’s determination, Foreign Secretary David Lammy said, “Putin is nearly 1,000 days into a war he thought would only take a few. He will fail, and…

At OCCRP, we strive to shed light on the pressing issues surrounding sanctions and sanctions evasion. We are excited to share the latest stories from OCCRP and its partners, along with our efforts at the Global Anti-Corruption Consortium (GACC) to amplify their impact.‍Key Themes from Our ReportingRecent reporting exposed how: ‍ A Cyprus IntermediaryTogether with OCCRP, our partners from the Belarusian Investigative Center (BIC), Schemes (Ukraine), and Belsat (Belarus), uncovered how a mysterious Cyprus-based company with ties to a former Belarusian official is being paid millions of euros by the Belarusian government to facilitate its trade in potash through Russia’s…

Russian troops involved in the abhorrent use of inhumane chemical weapons on the battlefield in Ukraine have been targeted by new UK sanctions. Russia’s Radiological Chemical and Biological Defence (CBR) troops and their commander have been sanctioned for the deployment of barbaric chemical weapons in UkraineUK calls out Russia’s flagrant violation of the Chemical Weapons Convention (CWC) and urges Russia to immediately cease all such activityaction continues the Foreign Secretary’s personal mission to target the full spectrum of the Kremlin’s malign activity through our arsenal of sanctionsRussian forces have openly admitted to using hazardous chemical weapons on the battlefield, with…

The government is carrying out 37 investigations into UK-linked businesses for potentially breaking Russian oil sanctions – but no fines have been handed out so far, the BBC can reveal.The identities of the businesses are unknown but it is understood some are likely to be maritime insurance firms.The Treasury said it would take action where appropriate, but pointed to the complexity of the cases as a reason they take considerable time.But Sir William Browder, a longstanding critic of Russian President Vladimir Putin, said it was an “embarrassment” that there had not been a single prosecution or fine for companies investigated…