The European Council and the European Parliament have announced a provisional agreement on a new authority to given anti-money laundering rules and supervise the EU's enforcement of its anti-money laundering and terrorism financing laws. The authority will have "direct and indirect supervisory powers over high-risk obliged entities in the financial sector," and will look to increase the efficiency of the anti-money laundering framework, the council said Dec. 13.
The U.K.'s Office of Financial Sanctions Implementation on Dec. 11 revised three entries under its Russia and Belarus sanctions regimes. OFSI updated identifying information for OOO Mvizion under its Russia sanctions and the listings for Mikhail Ivanovich Dola and Mikhail Kavaliou under its Belarus regime.
The EU inched closer this week to adopting a law that could require member states to treat sanctions violations as criminal offenses, which could result in harsher penalties and possible prison time (see 2306090006).
The U.K.'s Office of Financial Sanctions Implementation on Dec. 8 issued a new general license allowing sanctioned parties to pay certain U.K. government taxes and fees. Parties acting on behalf of the sanctioned people or entities may also make these payments. Parties making these payments must report the details of the payment within 14 days of making the payment to OFSI. The license took effect Dec. 9.
The U.K. this week unveiled a new agency that it said will boost enforcement of its Russia sanctions and "clamp down on companies dodging" those restrictions, the Department for Business and Trade announced. The new Office of Trade Sanctions Implementation also will help the government issue "tougher penalties" for trade sanctions violations and refer cases for criminal enforcement.
The European Commission last week proposed to extend the current rules of origin for electric vehicles and battery trade with the U.K., delaying the imposition of new tariffs on U.K. electric vehicles until Dec. 31, 2026. The rules were scheduled to take effect Jan. 1.
The European Council on Dec. 8 added two Hamas military leaders to the EU terrorist list. Mohammed Deif, commander general of Hamas' military wing, and Marwan Issa, the deputy commander, are now subject to an asset freeze.
A former EU director general for the bloc's climate action directorate defended its Carbon Border Adjustment Mechanism, saying it's not designed to protect European heavy industry against imports from lower-cost economies.
The U.K. this week designated 25 people and 20 entities under its Russia sanctions regime. The listings included a mix of businesses based in Russia, China, the United Arab Emirates, Turkey, Serbia and Uzbekistan, covering industries in the energy, shipping and defense sectors. Among those sanctioned was Russian firm Aeroscan, which was designated for supplying drones to the Russian military, along with Dubai-based shipping companies Radiating World Shipping Services and Star Voyages Shipping services, which do business in a Russian "sector of strategic significance."