Estonia – European Sanctions Enforcement

May 6, 2024 by Mark Handley

Estonia – bank to contest FIU’s €300,000 fine for breaching sanctions

LHV Pank in Estonia has today issued a press release to say that it intends to challenge a fine of €300,000 imposed on it by the FIU for breaching EU sanctions.

According to the press release the fines were imposed in relation to three incidents (two in 2022 and one in 2023) where the bank is accused of insufficiently rigorous due diligence and of permitting a transaction in breach of sanctions.

The press release does not state which sanctions regime the conduct relates to.

The bank says it takes regulatory compliance seriously and will challenge the fine in court.

March 28, 2024 by Mark Handley

Estonia – arrest and detention of journalist for alleged Russian sanctions breach

It is being reported today that a further journalist, Svetlana Burtseva, associated with the Russian media group Rossiya Segodnya has been arrested on suspicion of breaching EU sanctions.

The journalist was arrested in early March and is currently in detention.

This is a further Estonian example, see our earlier post, of a charge being brought on the basis that under EU sanctions services amount to an “economic resource” and to provide services to a designated person is to breach the asset freeze.

July 14, 2023January 19, 2024 by Mark Handley

Estonia – arrest and extradition to the US for Russian sanction offences

The US Attorney’s Office for the Eastern District of New York has issued a press release relating to charges against Vadim Konoshchenok, who was arrested in Estonia and extradited to the US.

Konoshchenok is charged with exporting US-made goods to Russia.

According to the release, Konoshchenok was arrested in Estonia in December 2022 attempting to smuggle into Russia 35 different electronic components including US-made controlled products.

Earlier efforts to export ammunition to Russia had resulted in the seizure of half a ton of material.

October 19, 2022February 19, 2024 by Mark Handley

Estonia – one arrested for suspected breach of US sanctions

The US Department of Justice has announced the multiple charges against individuals and companies relating to an attempt to export US-origin industrial equipment (a jig grinder) with military application to Russia.

The companies charged are CNC Weld (incorporated in Latvia) and BY Trade OU (incorporated in Estonia).

Stanislav Romanyuk is one the individuals. He was arrested in Estonia on 13 June 2022 for extradition to the US.

As part of the same investigation others were arrested in Latvia – see here.

April 7, 2022January 11, 2024 by Mark Handley

Estonia – two arrested on suspicion of breaching Russian sanctions

The Estonian Internal Security Service has arrested two individuals, Elena Cherysheva and Mati-Dmitri Terestal, on suspicion of making “economic resources” available to a designated person.

The allegations relate to the sanctioned media outlet, Sputnik. The economic resources are reported to amount to €350,000 in value.

February 5, 2020January 11, 2024 by Mark Handley

Estonia and Latvia conduct joint raids into suspected sanctions breaches

The Latvian security service, the VDD, and the Estonian Internal Security Service, have conducted joint raids in the two countries as part of ongoing criminal investigations.

The raids were on the premises of companies in Riga and Tallinn owned or controlled by designated persons under the EU sanctions.

It is reported that one of the companies raided was Baltic Media Alliance.

February 1, 2020January 11, 2024 by Mark Handley

Estonia – company owned by designated person required to close

The Estonian branch of Sputnik, controlled by Rossiya Segodnya which has a CEO under EU sanctions, has closed under threat of criminal prosecutions from the Estonian authorities. Staff members were told that continuing employment would amount to providing “economic resources” to a designated person in breach of EU sanctions.