2024 – Page 20 – European Sanctions Enforcement

February 21, 2024 by Mark Handley

Switzerland – updated enforcement statistics including 9 fines

Sanctions enforcement statistics for Switzerland’s SECO have been reported today. These are an update on those previously published in May last year.

- 230 reports to SECO of potential sanctions breaches:
- 47 proceedings commenced, of which:
  - 18 cases remain active;
  - 9 fines imposed; and
  - 20 cases discontinued.

SECO also stated that new cases are being added all the time, and that most relate to trade sanctions.

No information was published as to the level of the fines imposed (other than “varying severity”), or the identities of those fined or being investigated or prosecuted.

February 20, 2024 by Mark Handley

France – €120 million villa allegedly owned or controlled by GazpromNeft seized by French prosecutors

The Parquet de Paris (Paris Prosecutor’s Office) has seized a villa valued at €120 million in the south of France, and the shares of the company that is the registered owner of the villa.

The Paris Prosecutors allege that the villa is really owned or controlled by GazpromNeft, the Russian state-owned gas company which is designated in the EU and so subject to an asset freeze.

The seizure forms part of a ongoing investigation.

February 19, 2024 by Mark Handley

Finland – 700 Russian trade sanctions investigations of which 70 are large and complex

In September 2023, the Finnish Customs authorities announced they had 600 ongoing criminal investigations of which 60 were “aggravated”.

As reported in Wirtschaft Woche Sari Knaapi , the Chief Economic Crimes Investigator at Finnish Customs has now given details of the current figures, stating that there are now 700 ongoing investigations, with around 70 that are described as “large, complex cases”.

February 14, 2024 by Mark Handley

Finland – conviction of Russian national for breach of the EU travel ban

In a rare example of the enforcement of the travel ban imposed on designated persons, a court in Finland has convicted the Russian national Yan Petrovsky for travelling into Finland under an assumed alias, Voislav Torden, in 2022 and 2023.

Petrovsky was sentenced to 40 days in jail, and ordered to pay a fine of €80.

February 13, 2024 by Mark Handley

Switzerland – SECO refers two cases of breaching Russian sanctions for prosecution

It has been reported today that Switzerland’s State Secretariat for Economic Affairs (SECO) has referred two of its investigations into commodity trading companies to the Attorney General’s Office for criminal prosecution.

A third, allegedly similar, case is still being investigated and has not been referred.

It is reported that the allegations relate to the attempt to use of foreign subsidiaries to undertake trade in breach of the relevant Swiss sanctions against Russia.

February 13, 2024 by Mark Handley

France – Anti-Terrorism Prosecutor advances sanctions charges against Lafarge and individuals

On Friday France’s National Anti-Terrorism Prosecutor’s Office applied to the Paris court to have charges of terrorist financing, and breach of the relevant EU sanctions heard against Lafarge Holcim and nine individuals.

This criminal trial would go ahead before the trial of Lafarge on allegations of crimes against humanity after the Court of Cassation ruled last month that those charges should proceed.

For our earlier posts on the Lafarge matter see here.

February 9, 2024March 19, 2024 by Mark Handley

Latvia – further sanctions enforcement statistics including seven convictions

The Latvian authorities have provided a further update to their enforcement efforts. As reported:

- 281 sanctions-related suspicious activity reports in 2022
- 510 sanctions-related suspicious activity reports in 2023
- 310 criminal cases commenced
- 22 prosecutions in which the trial has started
- 7 convictions to date.

Of the convictions, all involved guilty pleas and all involved Latvian nationals. The highest penalty related to the export of a luxury car, and the fine was €170,000.

The conduct prosecuted included in relation to the sale of a professional footballer to a club owned by a company designated under Belarus sanctions, and the provision of content to the Russian Federal News Agency.

UPDATE: It has now (18 March 2024) been reported that the fine imposed in relation to providing economic resources to the Russian news agency in the form of employment services, was €15,500.

February 9, 2024 by Mark Handley

Germany: BaFin investigation into bank ongoing

There has been press reporting into the ongoing investigation by the German financial service regulator, BaFin, into the German bank Varengold Bank AG.

The investigation remains ongoing and so far no individuals have been accused of wrongdoing, and no reference has been made in relation to a criminal prosecution.

For our earlier post regarding the BaFin announcement see here.

February 7, 2024March 15, 2024 by Mark Handley

UK – FCA investigating banks over Iran sanctions allegations

Following widespread press reports (initially in the Financial Times) that a series of front companies linked to the Iranian Revolutionary Guard held accounts in the UK with Lloyds Bank and Santander, it is now being reported (behind a paywall) that both banks have been contacted by the Financial Conduct Authority in relation to the allegations.

Both banks have denied breaching sanctions.

February 2, 2024 by Mark Handley

Moldova – first known investigation into Russian sanctions breach

It has been reported that the Moldovan authorities are investigating allegations that three Moldovan companies have sold $15m in aircraft parts to Russian airlines.

Moldova, although not a part of the EU, has adopted its own sanctions against Russia.

The three companies are Airrock Solutions, Aerostage Services and Maxjet Service. It is alleged the companies acted as intermediaries, purchasing the parts from suppliers and then on-selling.

It is being reported that the companies deny knowing that the parts were being delivered to Russia and that they each thought the parts were going to other CIS countries.

The confirmation of an investigation is reported to have come from the office of the President of Moldova.