Financial Sanctions – Page 15 – European Sanctions Enforcement

March 14, 2023January 11, 2024 by Mark Handley

Switzerland – nearly 100 criminal investigations for sanctions breaches

The Swiss authorities have this week provided some statistics on their ongoing sanctions enforcement efforts.

They have reported a total of 100 investigations. Of those:

- - 13 investigations have been concluded without charge;
  - 23 have had criminal proceedings commenced; and
  - 60 cases remain under investigation.

While most of these relate to Russia, at least two relate to Belarus sanctions.

The majority of the investigations are said to relate to trade sanctions rather than financial sanctions.

March 4, 2023January 11, 2024 by Mark Handley

Netherlands – 45 ongoing Russian sanctions investigations

The Dutch authorities today announced that they have 45 ongoing criminal investigations into Russian sanctions breaches.

Of these 29 involve violations of import and export sanctions and 16 relate to breaches of financial sanctions.

March 3, 2023January 11, 2024 by Mark Handley

UK – extradition request for man withdrawn by US

Further to our earlier post, the US authorities have now withdrawn the extradition request for Graham Bonham-Carter.

He had been arrested as part of an extradition request in October 2022, but that request has now been withdrawn.

March 1, 2023January 11, 2024 by Mark Handley

France – 17 sanctions investigations ongoing

It has been reported today that the French authorities currently have 17 ongoing sanctions investigations targeting designated persons under the EU’s Russian sanctions.

The same report noted the ongoing French efforts to freeze and seize property assets of designated persons.

February 26, 2023January 11, 2024 by Mark Handley

Lithuania – investigation into breach of Belarus sanctions

The Lithuanian authorities are investigating allegations of the import of urea from the Belarus company Grodno Azot (designated under Belarus sanctions).

Searches have been conducted at a number of locations and 3000 tonnes of urea has been seized valued at several million euros.

The imports are alleged to have been conducted by two companies and involved the relabelling of the product as if it had been produced by another supplier and not Grodno Azot.

February 24, 2023January 11, 2024 by Mark Handley

Belgium – 19 reports referred for criminal prosecution

The Belgian Minister of Finance has issued a statement regarding Belgian efforts to enforce the EU’s sanctions against Russia.

Included, is confirmation that 19 reports have been referred to the public prosecutor’s office, and that a further 15 such other such reports are being prepared.

No further information on the nature of the alleged offending was included.

January 25, 2023December 9, 2024 by Mark Handley

Denmark – two further sanctions investigations referred to the police

It is being reported that the Danish Business Authority has referred two cases to the police for potential further action.

This is further to our earlier post relating to the commencement of the investigations.

Both cases relate to the continuation of operations by designated Russian organisations in Denmark.

These two police investigations add the the 12 already known to have been commenced (see our earlier post).

January 22, 2023January 11, 2024 by Mark Handley

Spain – British national arrested for US extradition

The Spanish Guardia Civil has today arrested a British national in response to an extradition request by the US authorities.

The man, Richard Masters, is alleged to have assisted in the contravention of sanctions as part of the management and operation of the yacht the M/Y Tango on behalf of sanctioned Russian Viktor Vekselberg.

The yacht has also been seized.

January 18, 2023December 9, 2024 by Mark Handley

Denmark – Danish Business Authority investigating possible breaches by two Russian designated persons

It is being reported that the Danish Business Authority is investigating whether the so-called “Russia House” in Copenhagen, which is a designated person under the EU’s sanctions has been breaching the asset freeze imposed upon it.

This follows an earlier report that the Danish Business Authority was also investigating possible breaches by Rossotrudnichestvo.

January 12, 2023January 11, 2024 by Mark Handley

France – investigation into real estate sector launched

The French Ministry of Finance has today announced an investigation into the sanctions compliance practices of estate agencies in the region of Alpes-Maritimes.

A preliminary investigation is said to have revealed that 60% were not conducting sanctions screening.