Russia Sanctions Evasion Case Study: Viktor Labin

When conducting customer due diligence and enhanced due diligence, simple screening for names that may be on sanctions lists is no longer sufficient given the increasing complexity of Russia’s sanctions evasion efforts and the volatile regulatory environment because of Moscow’s aggression against Ukraine. Extra research is necessary to ensure compliance with sanctions laws and adherence with your company’s own risk policies. This research, however, can be complex, and structured analytic techniques and tools are necessary for effective due diligence. 

Thanks to Russia, Cross-Border Sanctions Collaboration at All-Time High

Russia’s unprovoked invasion and continued aggression in Ukraine has led to an unprecedented level of collaboration by sanctions stakeholders across jurisdictions, agencies, and sectors. IFI is publishing a series of blogs to highlight this increased collaboration. In this first blog, we take a look at cooperation across borders and most notably by the REPO Task Force and Price Cap Coalition.

Ukraine’s War on Two Fronts – Fighting Corruption Amidst Russia’s Continued Attacks

As the second anniversary of Russia’s full-scale war of aggression in Ukraine approaches, winning on the battlefield remains the top mission objective for the Armed Forces of Ukraine, the Ukrainian people, and Ukraine’s international partners. While the full-scale invasion began two years ago, addressing systemic governmental and economic corruption has been an enduring battle for Ukraine since it gained its independence from the Soviet Union in 1991.

Exhausting Russian Resources by Sanctioning Western Software

Despite the Kremlin’s attempts to reduce reliance on Western software for crucial systems, this transition is advancing slowly, presenting significant opportunities to hinder Russia’s military effectiveness and economic activities. Read on for more information on the current role of Western technology and guidance for governments and companies formulating sanctions proposals.

Evading Export Controls – Russia’s Key to Success

Russia has used third-party intermediaries to evade sanctions and export controls for years and has disguised the involvement of SDNs or sanctioned entities in transactions to obscure the true identities of end users. This activity has increased since Russia’s invasion of Ukraine in 2022 due to Russia’s need for military equipment.

How to Avoid Becoming an Unwitting Facilitator of Russian Sanctions Evasion

What steps can organizations take to avoid becoming unwitting suppliers of critical components and tools for the Russian military?

A Timeline of US, EU, and UK Sanctions on Russia in 2023

The United States, United Kingdom, and European Union, among others, have increased their focus on enforcement, updated sanctions lists and export controls to limit Russia’s access to sensitive technologies, and taken steps to punish illicit actors assisting Russia. Explore a list of the various sanctions imposed by the United states, EU, and UK in 2023.

Biden Signs Executive Order Targeting Foreign Banks Supporting Russia

US President Joe Biden on December 22, 2023, signed an executive order to authorize the US Treasury Department’s Office of Foreign Assets Control (OFAC) to designate foreign financial institutions that help Russia’s defense industry, as Moscow’s war against Ukraine approaches its two-year anniversary.

Best Practices for the Maritime Oil Industry to Detect Restricted Trade in Russian Oil

Price Cap Coalition partners have published an Advisory following reports that Russia has been evading the $60 per barrel price cap that was imposed by the Coalition last year. The Advisory provides some best practices and recommendations to the maritime oil industry to help stakeholders reduce their exposure to risks of Russian oil cap evasion by detecting restricted trade in Russian oil.