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The EU Council places 3 persons and 3 companies sanctions over actions undermining Ukraine’s territorial integrity, sovereignty and independence. These sanctions consist of an asset freeze and a travel ban which will now apply to a total of 153 persons and 40 entities.

Read the full article at: www.consilium.europa.eu


Sanction use continues to increase as a diplomatic tool, putting more and more pressure on the timeliness of global sanctions, watch list and black list data. The United Nations, United States and European Union have shown no letup in discussion and implementation of these temporary restrictions as a way of exerting political pressure for diplomatic solutions to hot button issues around the globe. Keeping pace with the introduction…and the removal…of sanctions against individuals and businesses continues to be a priority for anti-money laundering, know your customer and extended due diligence teams.

Often times, the individuals and businesses targeted by these sanctions are identified publicly in media stories, press leaks, or communications by sanctioning bodies prior to action. This tactic seeks to telegraph the potential adverse action before it happens, usually in the hope of avoiding the sanction altogether. The impact of sanctions continues to be debated, but their use certainly has not abated.

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