The Latvian VDD has announced that it has carried out raids in Moscow House in Riga on 21 and 22 December with significant data and document seized.
A criminal case has been initiated against one individual.
Germany – prosecutors seek confiscation of €720 million
It has been reported that Federal Prosecutors in Germany have applied to confiscate €720 million in frozen assets belonging to Russia’s National Securities Depository.
After the NSD had been designated it had sought to move the funds and made transfer requests to JP Morgan and Commerzbank which refused to proceed with the transfer. As such the prosecutors are seeking to have the funds treated as the proceeds of crime and so confiscatable under ordinary anti-money laundering rules.
Latvia – raids and arrests for dual-use sanctions investigation
The Latvian State Security Service (VDD) has today announced a series of six raids and two arrests in Riga which took place on 4 December 2023 in relation to a criminal investigation into a Latvian company suspected of exporting electronic components to Russia.
The goods are reported to have been valued at €500,000.
The company was not named and nor were the individuals.
Netherlands – arrests and raids regarding Russian sanctions
It has been reported today that the Dutch authorities, after a tip-off from unnamed US “agencies” have conducted searches at homes and business addresses in Sluis and Rotterdam.
Related search and arrests took place in the Belgium (see our related post) at the same time, and in total across both countries six have been arrested.
The allegations relate to the export of products and technology to Russia.
Belgium – raids and arrests for Russian sanctions
It has been reported today that the Belgian authorities, after a tip-off from unnamed US “agencies” have conducted searches at homes and business addresses in Knokke-Heist and Eeklo.
The Belgian government announcement is here.
Related search and arrests took place in the Netherlands (see our related post) at the same time, and in total across both countries six have been arrested, four of whom were arrested in Belgium
The allegations relate to the export of products and technology to Russia.
Finland – charges coming for 6 for Russian sanctions breaches
It has been reported today that Finnish Customs are preparing to charge six with Russian sanctions offences.
The activities relate to two Finnish companies suspected of exporting microcontrollers and semi-conductors valued at more than €600,000 to Russia, as well as nearly 3,500 drones value at over €2 million.
The investigation is said to have also involved the authorities from the Netherlands, the UK, the US, as well as Europol and Finland’s Security and Intelligence Service.
Croatia – arrest on a US warrant related to Russian sanctions breaches
The US authorities today have announced that a national of Bosnia and Herzegovina has been arrested in Croatia on a US arrest warrant on suspicion of obstructing justice.
The individual was named as Vladimir Jovancic. He is alleged to have assisted Artem Uss flee house arrest in Italy after an Italian court has ordered Uss to be extradited to face sanctions charges in the US.
UK – HMRC imposes three compound penalties for exports
The UK’s HMRC has today announced three new compound penalties imposed on experts for unlawful exports.
The first penalty was £67,000.31 imposed for the attempted export of goods in breach of the UK’s Russian sanctions. The person or company involved was not named.
The second penalty was for £1,000 and the attempted unlicensed export of dual-use goods. Again the penalised company was not named.
The third penalty was for £9,088.99 for exporting dual-use goods without a licence. This too was anonymised.
Cyprus – 28 reports of possible sanctions breaches in last 6 months
It has been reported today that 28 reports to the Cypriot authorities have been received between May and November of this year.
The reports are said to have come from multiple sources including the Ministry of Finance, the Foreign Ministry, the anti-money laundering unit MOKAS, the Association of Cyprus Auditors, the Cyprus Bar Association, the Legal Service, and the Central Bank.
France – firm fined €600,000 for sanctions KYC failings
The Prudential Control and Resolution Authority has announced a reprimand and a fine of €600,000 on the firm Mutuelle de Poitiers for failures in its internal compliance program in relation to sanctions.
The failures related not only to delays in detecting designated persons, but in reporting to the ACPR.