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Last week's major developments in sanctions - April 3rd to April 7th, 2023

Updated: Apr 24, 2023

Monday, April 3

  • France added four individuals to its list of sanctions targets under the country's autonomous counter-terrorism sanctions program. (Here).

  • OFAC published its new website. The good news is that the new website has a couple of enhancements; the bad news is that all websites and policies which had links to the old website have to update all those links! (Press release)

Tuesday, April 4

Wednesday, April 5

  • France added four individuals to its list of sanctions targets under the country's autonomous counter-terrorism sanctions program. (Here).

  • OFAC imposed asset-freeze sanctions on the former President of the Haitian Chamber of Deputies under the U.S. Global Magnitsky program. (Here, the Department of the Treasury's press release)

  • The United States government took action against Genesis Market, an illicit darknet marketplace. Specifically:

    1. OFAC imposed asset-freeze sanctions on Genesis Market under its Cyber sanctions program; (Here, the Department of the Treasury's press release, the Department of State's press release)

    2. Department of Justice, in collaboration with Belgian and Latvian authorities, took down the marketplace. (Here)

  • The U.S. Department of State imposed travel bans (a type of sanctions) on four individuals in Georgia under Section 7031(c) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, due to their involvement in significant corruption. (Here)

  • The United States forfeited USD 826,000 which was used to export a dual-use item to Russia via Latvia. Also, the export of the item was intercepted before getting into Russia. (Here)

Thursday, April 6

  • OFSI updated its Industry Guidance on UK Maritime Services Ban and Oil Price Cap.

  • OFAC and BIS announced coordinated enforcement actions against Microsoft for $3,327,896.86. Microsoft sold software licenses, activated software licenses, and provided related services from servers and systems based in the United States and Ireland to SDNs, blocked persons, and other end users located in Cuba, Iran, Syria, Russia, and the Crimea region of Ukraine. Concerning BIS action, Microsoft exported its software, which was subject to the EAR to two entities on the BIS’s Entity List. (OFAC action, BIS Action)

Friday, April 7

  • There was no major development on this day.

The Recommendation of the Week

  • The U.S. Department of the Treasury published the 2023 DeFi Illicit Finance Risk Assessment. You can check it out here. TRM Labs tried to unpack it here.

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